If $4000 is invested at an interest rate of 6.25% per year, compounded continuously, find the value of the investment after the given number of years. (Round your answers to the nearest cent.) (a) 4 years (b) 8 years (c) 12 years $
If $4000 is invested at an interest rate of 6.25% per year, compounded continuously, find the value of the investment after the given number of years. (Round your answers to the nearest cent.) (a) 4 years (b) 8 years (c) 12 years $
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.2: Exponential Functions
Problem 50E
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![If $4000 is invested at an interest rate of 6.25% per year, compounded continuously, find the value of the investment after the given number of years. (Round your answers to the nearest cent.)
(a) 4 years
$
(b) 8 years
$
(c) 12 years
$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4d65cf9e-0931-4ee8-b3ba-5c1e5090fa8f%2Fbe3eb05c-2a3a-4650-8502-424b0609d4e5%2F7vy5u8g_processed.png&w=3840&q=75)
Transcribed Image Text:If $4000 is invested at an interest rate of 6.25% per year, compounded continuously, find the value of the investment after the given number of years. (Round your answers to the nearest cent.)
(a) 4 years
$
(b) 8 years
$
(c) 12 years
$
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