Answered: What will happen to my money if my…

What will happen to my money if my money will be 6.33% compounded continuously for 17.36 years? Note: Use the rate of interest as the rate constant, and the unit of time t is in years.

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section: Chapter Questions

Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...

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Question

What will happen to my money if my money will be 6.33% compounded continuously for 17.36 years?

Note: Use the rate of interest as the rate constant, and the unit of time t is in years.

Please include complete solutions.

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