If $3000 is invested at 5% interest, find thẻ välue of the investment at the end of 5 years if the interest is com- pounded (i) annually, (ii) semiannually, (iii) monthly, (iv) weekly, (v) daily, and (vi) continuously.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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20.
21. (a) If $3000 is invested at 5% interest, find the value of the
investment at the end of 5 years if the interest is com-
pounded (i) annually, (ii) semiannually, (iii) monthly,
(iv) weekly, (v) daily, and (vi) continuously.
(b) If A(t) is the amount of the investment at time t for the
case of continuous compounding, write a differential
equation and an initial condition satisfied by A(t).
Transcribed Image Text:20. 21. (a) If $3000 is invested at 5% interest, find the value of the investment at the end of 5 years if the interest is com- pounded (i) annually, (ii) semiannually, (iii) monthly, (iv) weekly, (v) daily, and (vi) continuously. (b) If A(t) is the amount of the investment at time t for the case of continuous compounding, write a differential equation and an initial condition satisfied by A(t).
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