10.A savings bond offers interest at a rate of 6.0%, compounded monthly. Suppose that an $8000 bond is purchased a)Write an equation for the value of the investment as a function of time, t, in years. b) Determine the value of the investment after 5 years. c)How long will it take for the investment to triple in value, to the nearest tenth of a year?

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Chapter2: Second-order Linear Odes
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10.A savings bond offers interest at a rate of 6.0%, compounded monthly. Suppose
that an $8000 bond is purchased
a)Write an equation for the value of the investment as a function of time, t, in years.
b) Determine the value of the investment after 5 years.
c)How long will it take for the investment to triple in value, to the nearest tenth of a
year?
Transcribed Image Text:10.A savings bond offers interest at a rate of 6.0%, compounded monthly. Suppose that an $8000 bond is purchased a)Write an equation for the value of the investment as a function of time, t, in years. b) Determine the value of the investment after 5 years. c)How long will it take for the investment to triple in value, to the nearest tenth of a year?
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