A particular savings bank pays 2% annual interest compounded continuously. How much will a deposit of $3000 amount to for each time period? Hint Convert months to days. When needed, use 365 days per year and 30 days per month. a7 years b. 9 years 6 manths C 4 years 1 month 16 days d. 28 years 217 days a The amount accumulated after 7 years is $ (Round to the nearest cent as needed.) b. The amount accumulated after 9 years and 6 months is (Round to the nearest cent as needed.) c. The amount accumulated after 4 years 1 month and 16 days is $ (Round to the nearest cent as needed.) d. The amount accumulated after 28 years 217 days is (Round to the nearest cent as needed.)
A particular savings bank pays 2% annual interest compounded continuously. How much will a deposit of $3000 amount to for each time period? Hint Convert months to days. When needed, use 365 days per year and 30 days per month. a7 years b. 9 years 6 manths C 4 years 1 month 16 days d. 28 years 217 days a The amount accumulated after 7 years is $ (Round to the nearest cent as needed.) b. The amount accumulated after 9 years and 6 months is (Round to the nearest cent as needed.) c. The amount accumulated after 4 years 1 month and 16 days is $ (Round to the nearest cent as needed.) d. The amount accumulated after 28 years 217 days is (Round to the nearest cent as needed.)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Transcribed Image Text:A particular savings bank pays 2% annual interest compounded continuously. How much will a deposit of $3000 amount to for each time period?
Hint: Convert months to days. When needed, use 365 days per year and 30 days per month.
a7 years
b. 9 years 6 manths
C 4 years 1 month 16 days
d. 28 years 217 days
a The amount accumulated after 7 years is $
(Round to the nearest cent as needed.)
b. The amount accumulated after 9 years and 6 months is $
(Round to the nearest cent as needed.)
c The amount accumulated after 4 years 1 month and 16 days is $
(Round to the nearest cent as needed.)
d. The amount accumulated after 28 years 217 days is $
(Round to the nearest cent as needed.)
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