6. For a banking scenario modeled by A=1,000e0.04, interpret the meaning of the constants in context. (You should be using the word "continuous" in your description.)
Percentage
A percentage is a number indicated as a fraction of 100. It is a dimensionless number often expressed using the symbol %.
Algebraic Expressions
In mathematics, an algebraic expression consists of constant(s), variable(s), and mathematical operators. It is made up of terms.
Numbers
Numbers are some measures used for counting. They can be compared one with another to know its position in the number line and determine which one is greater or lesser than the other.
Subtraction
Before we begin to understand the subtraction of algebraic expressions, we need to list out a few things that form the basis of algebra.
Addition
Before we begin to understand the addition of algebraic expressions, we need to list out a few things that form the basis of algebra.
can you help me with number 6 and 7
![**Explorations**
5. **Write a model for a banking scenario where $250 is invested in an account that compounds interest continuously at a rate of 2.5%.**
\[
250 \times e^{0.025t}
\]
(a) **How much has accrued after 3 years?**
\[
t = 3 \implies \$264.47
\]
(b) **How long will it take to double the money?**
\[
\frac{2(250)}{250} = e^{0.025t}
\]
\[
2 = e^{0.025t}
\]
6. **For a banking scenario modeled by \( A = 1,000e^{0.04t} \), interpret the meaning of the constants in context.** (You should be using the word "continuous" in your description.)
7. **As a gift to your newborn nephew, you decide to put $500 into an investment. He will be able to access the accumulated sum when he turns 18 or at a later date if he prefers. You are comparing two investment options. One pays 5% interest compounded quarterly and the other pays 4.5% interest compounded continuously. Which option should you choose? Support your answer.**](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4bf99a3d-f20b-4e6a-91bc-3d2554af778b%2Fbb374c53-716e-4f8a-88b5-838c319c396c%2Fai2jc3e_processed.jpeg&w=3840&q=75)
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