When $500 is invested at 7%, compounded continuously, is S(t) 500e0.07t where t is the number of years. (Round your answers to the nearest cent.) (a) At what rate is the money in this account growing when t = 4? $ 165.39 per year (b) At what rate is it growing when t = 10? $ 100.69 per year
When $500 is invested at 7%, compounded continuously, is S(t) 500e0.07t where t is the number of years. (Round your answers to the nearest cent.) (a) At what rate is the money in this account growing when t = 4? $ 165.39 per year (b) At what rate is it growing when t = 10? $ 100.69 per year
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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Transcribed Image Text:The future value that accrues when $500 is invested at 7%, compounded continuously, is
S(t) = 500e0.07t
where t is the number of years. (Round your answers to the nearest cent.)
a) At what rate is the money in this account growing when t = 4?
$ 165.39
X per year
(b) At what rate is it growing when t = 10?
$100.69
X per year
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