The formula A =Pet describes the accumulated value, A, of a sum of money, P, the principal, after t years at annual percentage rate r (in decimal form) compounded continuously. Complete the table for a savinc account subject to continuous compounding. Amount Invested Annual Interest Rate $7500 Accumulated Amount Double the amount invested Time t in Years 9% t years (Do not round until the final answer. Then round to one decimal place as needed.)

College Algebra
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ISBN:9781938168383
Author:Jay Abramson
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Chapter9: Sequences, Probability And Counting Theory
Section: Chapter Questions
Problem 30RE: The twins Sarah and Scott both opened retirement accounts on their 2lst birthday. Sarah deposits...
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The formula A Pe" describes the accumulated value, A, of a sum of money, P, the principal, aftert years at annual percentage rate r (in decimal form) compounded continuously. Complete the table for a savings
account subject to continuous compounding.
Amount Invested Annual Interest Rate
Accumulated Amount
Time t in Years
$7500
9%
Double the amount invested
?
years
(Do not round until the final answer. Then round to one decimal place as needed.)
Enter your answer in the answer box.
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Transcribed Image Text:rt The formula A Pe" describes the accumulated value, A, of a sum of money, P, the principal, aftert years at annual percentage rate r (in decimal form) compounded continuously. Complete the table for a savings account subject to continuous compounding. Amount Invested Annual Interest Rate Accumulated Amount Time t in Years $7500 9% Double the amount invested ? years (Do not round until the final answer. Then round to one decimal place as needed.) Enter your answer in the answer box. MacBook DII DD F11 F10 000 O00 F9 F8 F6 F 7 F5 F4 esc F2 F3 F1 & #3 %24 1 2 4 5 E R. T Y J 00
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