Suppose that $70000 is invested at 9% interest per year. Find the amount of money in the account after 6 years if the interest is compounded annually. Find the amount of money in the account after 6 years if the interest is compounded continuously.

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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If interest is compounded annually, what is the amount of money at t= 6 years?
Suppose that $70000 is invested at 9% interest per year. Find the amount of
money in the account after 6 years if the interest is compounded annually. Find the s
amount of money in the account after 6 years if the interest is compounded
continuously.
(Simplify your answer. Type an integer or a decimal. Round to the nearest cent if
needed.)
If interest is compounded continuously, what is the amount of money at t= 6
years?
(Simplify your answer Type an integer or a decimal. Round to the nearest cent if
needed.)
Transcribed Image Text:If interest is compounded annually, what is the amount of money at t= 6 years? Suppose that $70000 is invested at 9% interest per year. Find the amount of money in the account after 6 years if the interest is compounded annually. Find the s amount of money in the account after 6 years if the interest is compounded continuously. (Simplify your answer. Type an integer or a decimal. Round to the nearest cent if needed.) If interest is compounded continuously, what is the amount of money at t= 6 years? (Simplify your answer Type an integer or a decimal. Round to the nearest cent if needed.)
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