Question

You deposit $8000 in an account earning 5% interest compounded continuously. The amount of money in the account after t years is given by A(t)- 8000e0.06. How much will you have in the account in 3 years? SL Round your answer to 2 decimal places. How long will it be until you have $13300 in the account? decimal places. years. Round your answer to 2 How long does it take for the money in the account to double? decimal places. years. Round your answer to 2 License Points possible: 1 This is attempt 1 of 2.

Answer 1

O Amant depeesited $800 Interest rate = 50% Amount Alt) = 8000 oost t = 3 years 2A(3)= 8000 00sx3 A (3) = 8000 is A (3) = 8000X1.16183 A(35= 9294.673 So, amount after 3 years is; TA (3) = $9294.673789994.67

Amount = $133.00 in t time Alt)- 8000 8.05 so133.60 = 800$ eº 0.05 t 133=80 post 133 00st Taking log both sides. en 1.6695 - oost t = ln 1.6625 Dios t = 0.50832 ... Lit 10.166 years) So in t = 10:166 years, the amoun becomes $13300. ort=10.17 years G amount in the accound doubles, Amount a 80.00x 2 = 16000 Alt = 8000 eurt Hoor = 8000 diost

2 g = const Taking bag both sides, In 2 = 0.05 t 0.693 It - 13.8.629 years t = 13.86 years, in 13.862 becomes coulde 0.05. the amount