Two accounts earn annual interest compounded continuously. The balance A (in dollars) of Account M can be modeled by A=800e0.03t The graph shows the balance of Account N over time (please see attached image). a. Which account has a greater principal?   How much greater is the principal

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter1: Equations, Inequalities, And Mathematical Modeling
Section1.3: Modeling With Linear Equations
Problem 1ECP: You accept a job with an annual income of $58,400 . This includes your salary and a $1200 year-end...
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Two accounts earn annual interest compounded continuously. The balance A (in dollars) of Account M can be modeled by A=800e0.03t The graph shows the balance of Account N over time (please see attached image).

a. Which account has a greater principal?

  How much greater is the principal? 

Account N
A
1600
1200
(1, 624.49)
800
400
(0, 600)
2 4 6 8
10 t
Year
Balance (dollars)
Transcribed Image Text:Account N A 1600 1200 (1, 624.49) 800 400 (0, 600) 2 4 6 8 10 t Year Balance (dollars)
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