You plan to invest in an account which pays 5.5% compounded continuously. If the investment period is for 6 years, then A(P) =Pe0.055•6=Pe0.33 gives the total balance of P dollars. a. Find a formula for A′(P) . b. Find and interpret A′(5000). c. Compare the approximation to the actual change.

You plan to invest in an account which pays 5.5% compounded continuously. If the investment period is for 6 years, then A(P) =Pe0.055•6=Pe0.33 gives the total balance of P dollars. a. Find a formula for A′(P) . b. Find and interpret A′(5000). c. Compare the approximation to the actual change.

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter6: Vector Spaces

Section6.7: Applications

Problem 13EQ

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Question

You plan to invest in an account which pays

5.5% compounded continuously.

If the investment period is for 6 years, then

A(P) =Pe0.055•6=Pe0.33 gives the total balance of P dollars.

a. Find a formula for A′(P)
.

b. Find and interpret A′(5000).

c. Compare the approximation to the actual change.

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