Use the exponential growth model to calculate the amount of money you will have in the bank after 12 years if you deposit $31,000 into an account that pays 2.6% interest compounded continuously. A. $42,513.63 B. $42,640.04 C. $42,235.18 D. $42,350.80
Use the exponential growth model to calculate the amount of money you will have in the bank after 12 years if you deposit $31,000 into an account that pays 2.6% interest compounded continuously. A. $42,513.63 B. $42,640.04 C. $42,235.18 D. $42,350.80
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section: Chapter Questions
Problem 22T
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Use the exponential growth model to calculate the amount of money you will have in the
bank after 12 years if you deposit $31,000 into an account that pays 2.6% interest
compounded continuously.
A. $42,513.63
B. $42,640.04
C. $42,235.18
D. $42,350.80
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