Chapter 2.2, Problem 65E

### Finite Mathematics and Applied Cal...

7th Edition
Stefan Waner + 1 other
ISBN: 9781337274203

Chapter
Section

### Finite Mathematics and Applied Cal...

7th Edition
Stefan Waner + 1 other
ISBN: 9781337274203
Textbook Problem

# In Exercises 63-66, obtain an exponential function in the form f ( t ) = A e r t . [HINT: See Example 5.] f ( t ) is the value after t years of a $1,000 investment depreciating continuously at an annual rate of 6.3%. To determine To calculation: The exponential function in the form of f(t)=Art if f(t) is the value after t years of a$1000 investment depreciating at 6.3% interest rate continuously.

Explanation

Given Information:

f(t)

is the value after t years of a $1000 investment earning 5.3% interest compounded continuously. Calculation: Consider the expression of continuous depreciation: f(t)=Aert Here, f(t) is the total amount, A is the principle amount, r is the rate of interest and t is the time. As given, amount is$1000 and rate is 6.3%

Use negative sign for rate as depreciation is taking place.

Assume, A=1000 and r=ā0

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