$6,000 is invested at a rate of 2% compounded continuously for the first 2 years, then at a rate of 3.5% compounded continuously for the next 2 years and finally starting at the end of the fourth year at a rate of 5% compounded continuously. Calculate the amount the investment would be worth after 6 years. A) $6435.05 B) $6764.98 C) $7,402.07 D) $12,082.52

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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$6,000 is invested at a rate of 2% compounded continuously for
the first 2 years, then at a rate of 3.5% compounded continuously
for the next 2 years and finally starting at the end of the fourth
year at a rate of 5% compounded continuously. Calculate the
amount the investment would be worth after 6 years.
A) $6435.05
B) $6764.98 C) $7,402.07 D) $12,082.52
Transcribed Image Text:$6,000 is invested at a rate of 2% compounded continuously for the first 2 years, then at a rate of 3.5% compounded continuously for the next 2 years and finally starting at the end of the fourth year at a rate of 5% compounded continuously. Calculate the amount the investment would be worth after 6 years. A) $6435.05 B) $6764.98 C) $7,402.07 D) $12,082.52
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