Answer part (d) Suppose that you borrow $10,000 at 2% APR and that interest is compounded continuously. The equation of change for your account balance B = B(t) isdB= 0.02B.dtHere t is the number of years since the account was opened, and B is measured in dollars.(a) Explain why B is an exponential function.O The equation of change isdf= erx where r is a constant.dxdf= rex wherer is a constant.dxO The equation of change isdfO The equation of change isdx1where r is a constant.df= rf wherer is a constant.dxO The equation of change isdf= r where r is a constant.dxThe equation of change is(b) Find a formula for B using the alternative form for exponential functions.B = 10000e.02t(c) Find a formula for B using the standard form for exponential functions. (Round the growth factor to three decimal places.)B = 10000 · 1.02'(d) Assuming that no payments are made, use your formula from part (b) to determine how long it would take for your account balance to double. (Round your answer to two decimalplaces.)years

Name: Answer part (d) Suppose that you borrow $10,000 at 2% APR and that int
Uploaded: 2024-03-20T07:06:41.000Z
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Description: Answer part (d) Suppose that you borrow $10,000 at 2% APR and that interest is compounded continuously. The equation of change for your account balance B = B(t) isdB= 0.02B.dtHere t is the number of years since the account was opened, and B is measur