**Investment Growth with Monthly Compounding Interest**An investment of $3,000 is deposited into an account with interest compounded monthly. Complete the table by calculating the amount the investment grows to over a period of 4 years at the specified interest rates. Round your answers to the nearest cent.**Time Period**: $ t = 4 $ years| Rate per year | Amount ||---------------|----------|| 1% | $ || 2% | $ || 3% | $ || 4% | $ || 5% | $ || 6% | $ |To find the amount, use the formula for compound interest:\[ A = P \left(1 + \frac{r}{n}\right)^{nt} \]Where:- $ A $ is the amount of money accumulated after n years, including interest.- $ P $ is the principal amount ($3,000).- $ r $ is the annual interest rate (decimal).- $ n $ is the number of times that interest is compounded per year (12 for monthly).- $ t $ is the time in years (4 years). **Problem Statement:**A bacteria culture contains 1500 bacteria initially and doubles every hour.**(a) Find a function $ N $ that models the number of bacteria after $ t $ hours.**\[ N(t) = \_\_\_\_\_\_ \]**(b) Find the number of bacteria after 24 hours.**\[\_\_\_\_\_\_ \text{ bacteria} \]

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An investment of $3000 is deposited into an account in which interest is compounded monthly. Complete the table by filling in the amounts to which the investment grows at the indicated interest rates. (Round your answers to the nearest cent.) t = 4 yr Rate per year Amount 1% $ 2% 3% 2$ 4% 5% $ 6% $

An investment of $3000 is deposited into an account in which interest is compounded monthly. Complete the table by filling in the amounts to which the investment grows at the indicated interest rates. (Round your answers to the nearest cent.) t = 4 yr Rate per year Amount 1% $ 2% 3% 2$ 4% 5% $ 6% $

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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