Suppose that P, is invested in a savings account in which interest is compounded continuously at 6.2% per year. That is, the balance P grows at the rate given by the following equa dP = 0.062P(t) dt (a)Find the function P(t) that satisfies the equation. Write it in terms of P, and 0.062. (b)Suppose that $500 is invested. What is the balance after 3 years? (c)When will an investment of $500 double itself? (a) Cnoose ne correct answer peiow. O A. Po = P(t)e0.062t O B. P() = P(t) e 0.062t O C. P(t)=0.062P, e O D. P(t)= Poe 0.062t (b) The balance after 3 year is $ (Type an integer or decimal rounded to two decimal places as needed.) (c) The doubling time is year. Click to select your answer(s).
Suppose that P, is invested in a savings account in which interest is compounded continuously at 6.2% per year. That is, the balance P grows at the rate given by the following equa dP = 0.062P(t) dt (a)Find the function P(t) that satisfies the equation. Write it in terms of P, and 0.062. (b)Suppose that $500 is invested. What is the balance after 3 years? (c)When will an investment of $500 double itself? (a) Cnoose ne correct answer peiow. O A. Po = P(t)e0.062t O B. P() = P(t) e 0.062t O C. P(t)=0.062P, e O D. P(t)= Poe 0.062t (b) The balance after 3 year is $ (Type an integer or decimal rounded to two decimal places as needed.) (c) The doubling time is year. Click to select your answer(s).
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 11T: Suppose that $12,000 is invested in a saving account paying 5.6% interest per year. (a)Write the...
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Transcribed Image Text:Suppose that Po is invested in a savings account in which interest is compounded continuously at 6.2% per year. That is, the balance P grows at the rate given by the following equa
dP
= 0.062P(t)
dt
(a)Find the function P(t) that satisfies the equation. Write it in terms of Po and 0.062.
(b)Suppose that $500 is invested. What is the balance after 3 years?
(c)When will an investment of $500 double itself?
(a) Cnoose tne correct answer peiow
O A. Po = P(t) e 0.062t
O B. P(t) = P(t) e 0.062t
O C. P(t) = 0.062P, e
O D. P(t) = Po e
0.062t
(b) The balance after 3 year is $
(Type an integer or decimal rounded to twwo decimal places as needed.)
(c) The doubling time isyear.
Click to select your answer(s).
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