3. If $1000 is invested at 10% compounded continuously, the future value S at any time t (in years) is given by S = 1000e 0.1t a. What is the amount after 1 year? b. How long before the investment doubles? [3]
3. If $1000 is invested at 10% compounded continuously, the future value S at any time t (in years) is given by S = 1000e 0.1t a. What is the amount after 1 year? b. How long before the investment doubles? [3]
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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![3. If $1000 is invested at 10% compounded continuously, the future value S at any time
t (in years) is given by S = 1000e 0.1t
a. What is the amount after 1 year?
b. How long before the investment doubles?
[3]
given by p=
In
ce per](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fadb0a491-654f-4499-9b84-22212e88613f%2F6437591d-2160-4019-964e-2674d4d21870%2Fn3ruks_processed.jpeg&w=3840&q=75)
Transcribed Image Text:3. If $1000 is invested at 10% compounded continuously, the future value S at any time
t (in years) is given by S = 1000e 0.1t
a. What is the amount after 1 year?
b. How long before the investment doubles?
[3]
given by p=
In
ce per
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