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2. (15 points) Suppose that $10,000 is invested at an interest rate of 5.4% per year,...
Suppose that $16,416 is invested at an interest rate of 5.5% per year, compounded continuously. a)...
Suppose that $16,416 is invested at an interest rate of 5.5% per year, compounded continuously. a) Find the exponential function that describes the amount in the account after time t, in years. b) What is the balance after 1 year? 2 years? 5 years? 10 years? c) What is the doubling time? a) The exponential growth function is P(t) = (Type exponential notation with positive exponents. Do not simplify. Use integers or decimals for any
Suppose that $18,961 is invested at an interest rate of 5.7% per year, compounded continuously. a)...
Suppose that $18,961 is invested at an interest rate of 5.7% per year, compounded continuously. a) Find the exponential function that describes the amount in the account after time t, in years. b) What is the balance after 1 year? 2 years? 5 years? 10 years? c) What is the doubling time? a) The exponential growth function is P(t)= (Type exponential notation with positive exponents. Do not simplify. Use integers or decimals for any numbers b) The balance after 1...
Suppose that $11,399 is invested at an interest rate of 6 3% per year, compounded continuously...
Suppose that $11,399 is invested at an interest rate of 6 3% per year, compounded continuously a) Find the exponential function that describes the amount in the account after time t, in years b) What is the balance after 1 year? 2 years? 5 years? 10 years? c) What is the doubling time? a) The exponential growth function is - 1 (Type exponential notation with positive exponents. Do not simplify. Use integers or decimals for any numbers in the equation.)...
1) Please write clearly. Suppose that $12,170 is invested at an interest rate of 5.1% per...
1) Please write clearly.
Suppose that $12,170 is invested at an interest rate of 5.1% per year, compounded continuously. a) Find the exponential function that describes the amount in the account after time t, in years. b) What is the balance after 1 year? 2 years? 5 years? 10 years? c) What is the doubling time? a) The exponential growth function is P(t) = 0. (Type exponential notation with positive exponents. Do not simplify. Use integers or decimals for any...
Suppose $6,600 is invested at interest rate k, compounded continuously, and grows to $10,600 in 6...
Suppose $6,600 is invested at interest rate k, compounded continuously, and grows to $10,600 in 6 years. a) Find the interest rate. b) Find the exponential growth function. c) Find the balance after 10 years.
5) Suppose $6,600 is invested at interest rate k, compounded continuously, and grows to $10,600 in...
5) Suppose $6,600 is invested at interest rate k, compounded continuously, and grows to $10,600 in 6 years. a) Find the interest rate. b) Find the exponential growth function. c) Find the balance after 10 years.
If 7000 dollars is invested in a bank account at an interest rate of 6 per cent per year,
If 7000 dollars is invested in a bank account at an interest rate of 6 per cent per year,Find the amount in the bank after 13 years if interest is compounded annually:Find the amount in the bank after 13 years if interest is compounded quarterly:Find the amount in the bank after 13 years if interest is compounded monthly:Finally, find the amount in the bank after 13 years if interest is compounded continuously:
Suppose that Po is invested in a savings account in which interest is compounded continuously at ...
Suppose that Po is invested in a savings account in which interest is compounded continuously at 59% per year. That is, the balance P grows at the rate given by the following equation dP 0.059P(t) dt (a)Find the function P(t) that satisfies the equation. Write it in terms of Po and 0.059. (b)Suppose that $1500 is invested. What is the balance after 2 years? (c)When will an investment of $1500 double itself? (a) Choose the correct answer below. Po P(t)...
3) (15 points) A local credit union pays a market interest rate of 5% per year...
3) (15 points) A local credit union pays a market interest rate of 5% per year for long-term deposits. The current inflation rate is 2% per year. a) (5 points) If I invest some money in a long-term fund at the credit union, what is the real (inflation- free) interest rate I will be earning? b) (10 points) I open a new account today, deposit $10,000, and do not expect to make any deposits or withdrawals for the next 5...
Suppose that $17,000 is invested in a savings account paying 6.2% interest per year. (a) Write...
Suppose that $17,000 is invested in a savings account paying 6.2% interest per year. (a) Write the formula for the amount A in the account after years of interest is compounded monthly Att) - (b) Find the amount in the account after 5 years ir interest is compounded daily (Round your answer to two decimal places) (c) How long will it take for the amount in the account to grow to $20,000 ir interest is compounded continuously? (Round your answer...
Suppose that $16,416 is invested at an interest rate of 5.5% per year, compounded continuously. a) Find the exponential function that describes the amount in the account after time t, in years. b) What is the balance after 1 year? 2 years? 5 years? 10 years? c) What is the doubling time? a) The exponential growth function is P(t) = (Type exponential notation with positive exponents. Do not simplify. Use integers or decimals for any
Suppose that $18,961 is invested at an interest rate of 5.7% per year, compounded continuously. a) Find the exponential function that describes the amount in the account after time t, in years. b) What is the balance after 1 year? 2 years? 5 years? 10 years? c) What is the doubling time? a) The exponential growth function is P(t)= (Type exponential notation with positive exponents. Do not simplify. Use integers or decimals for any numbers b) The balance after 1...
Suppose that $11,399 is invested at an interest rate of 6 3% per year, compounded continuously a) Find the exponential function that describes the amount in the account after time t, in years b) What is the balance after 1 year? 2 years? 5 years? 10 years? c) What is the doubling time? a) The exponential growth function is - 1 (Type exponential notation with positive exponents. Do not simplify. Use integers or decimals for any numbers in the equation.)...
1) Please write clearly.
Suppose that $12,170 is invested at an interest rate of 5.1% per year, compounded continuously. a) Find the exponential function that describes the amount in the account after time t, in years. b) What is the balance after 1 year? 2 years? 5 years? 10 years? c) What is the doubling time? a) The exponential growth function is P(t) = 0. (Type exponential notation with positive exponents. Do not simplify. Use integers or decimals for any...
Suppose $6,600 is invested at interest rate k, compounded continuously, and grows to $10,600 in 6 years. a) Find the interest rate. b) Find the exponential growth function. c) Find the balance after 10 years.
5) Suppose $6,600 is invested at interest rate k, compounded continuously, and grows to $10,600 in 6 years. a) Find the interest rate. b) Find the exponential growth function. c) Find the balance after 10 years.
Suppose that Po is invested in a savings account in which interest is compounded continuously at 59% per year. That is, the balance P grows at the rate given by the following equation dP 0.059P(t) dt (a)Find the function P(t) that satisfies the equation. Write it in terms of Po and 0.059. (b)Suppose that $1500 is invested. What is the balance after 2 years? (c)When will an investment of $1500 double itself? (a) Choose the correct answer below. Po P(t)...
3) (15 points) A local credit union pays a market interest rate of 5% per year for long-term deposits. The current inflation rate is 2% per year. a) (5 points) If I invest some money in a long-term fund at the credit union, what is the real (inflation- free) interest rate I will be earning? b) (10 points) I open a new account today, deposit $10,000, and do not expect to make any deposits or withdrawals for the next 5...
Suppose that $17,000 is invested in a savings account paying 6.2% interest per year. (a) Write the formula for the amount A in the account after years of interest is compounded monthly Att) - (b) Find the amount in the account after 5 years ir interest is compounded daily (Round your answer to two decimal places) (c) How long will it take for the amount in the account to grow to $20,000 ir interest is compounded continuously? (Round your answer...
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