Complete the table for a savings account in which interest is compounded continuously. (Round your answers...
13. + -14 points LarPCalc9 3.5.010 My Notes + Complete the table assuming continuously compounded interest. (Round your answers to two decimal places.) Initial Investment Annual % Rate Time to Double Amount After 10 Years $800 $1705 Need Help?Read It Talk to a Tutor Submit Answer Save Progress Practice Another Version 14. + -14 points LarPCalc9 3.5.011 My Notes Complete the table assuming continuously compounded interest. (Round your answers to two decimal places.) Initial Investment Annual 00 Rate Time to...
8. Juan deposits $4,300 into a savings account that pays 6.9% per year, continuously compounded. What is the effective annual interest rate? Determine the value of his account at the end of four years. The effective annual interest rate is %. (Round to two decimal places.) The value of this account at the end of four years is $ (Round to the nearest dollar.)
Suppose you deposited $2000 in a saving account in which interest is compounded continuously. It takes 16 years to double your money in this account. Olo (1) What is the annual rate of interest? (Round your answer to one decimal place.) Submit Answer Tries 0/99 dollars (2) How much will you have in this account after 26 years? (Round your answer to two decimal places.) Submit Answer Tries 0/99
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)...
Suppose that is invested in a savings account in which interest, k, is compounded continuously at 3% per year. The balance P(t) after time t, in years, is P(t) = Pekt a) What is the exponential growth function in terms of P and 0.03? P(t)=0
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....
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 $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.)...
Suppose $20,000 is invested in an account that returns 9% per year compounded continuously. (Round your answers to one decimal place.) (a) How long will it take for the investment to double? yr (b) How long will it take for the investment to triple? yr