   Chapter 13, Problem 41RE ### Mathematical Applications for the ...

11th Edition
Ronald J. Harshbarger + 1 other
ISBN: 9781305108042

#### Solutions

Chapter
Section ### Mathematical Applications for the ...

11th Edition
Ronald J. Harshbarger + 1 other
ISBN: 9781305108042
Textbook Problem

# Savings The future value of $1000 invested in a savings account at 10 % compounded continuously is S = 1000 e 0.1 t , where t is in years. Find the average amount in the savings account during the first 5 years. To determine To calculate: The average amount in the saving accounts during the first 5 years where the future value of the$1000 invested in savings accounts at 10% compounded continuously is S=1000e0.1t, t is in years.

Explanation

Given information:

The future value of the \$1000 invested in savings accounts at 10% compounded continuously is S=1000e0.1t, t is in years.

Formula used:

Average amount,

The average amount for the future value function y=f(x) over the interval [a,b] is:

Average amount=1baabf(x)dx

Calculation:

Consider the income function,

S=1000e0.1t

And the range is from [0,5]

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