$1800 is invested in an account with an APR of 7.5%. a. If the interest is compounded continuously, what is the account value after 3 years? $ Preview b. Based on your answer to part (a), how much interest is earned over this time period (in dollars)? $ Preview Submit

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section: Chapter Questions
Problem 48CR
icon
Related questions
Question

4.7

$1800 is invested in an account with an APR of 7.5%.
a. If the interest is compounded continuously, what
is the account value after 3 years?
2$
Preview
b. Based on your answer to part (a), how much
interest is earned over this time period (in
dollars)?
2$
Preview
Submit
Transcribed Image Text:$1800 is invested in an account with an APR of 7.5%. a. If the interest is compounded continuously, what is the account value after 3 years? 2$ Preview b. Based on your answer to part (a), how much interest is earned over this time period (in dollars)? 2$ Preview Submit
Expert Solution
Step 1

Solve

steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Recommended textbooks for you
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
College Algebra
College Algebra
Algebra
ISBN:
9781337282291
Author:
Ron Larson
Publisher:
Cengage Learning
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9781285195728
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Algebra for College Students
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning