The future value that accrues when $500 is invested at 5%, compounded continuously, is S(t) = 500e0.05t where t is the number of years. (Round your answers to the nearest cent.) (a) At what rate is the money in this account growing when t = 4? $ 152 x per year (b) At what rate is it growing when t = 10? ner year

The future value that accrues when $500 is invested at 5%, compounded continuously, is S(t) = 500e0.05t where t is the number of years. (Round your answers to the nearest cent.) (a) At what rate is the money in this account growing when t = 4? $ 152 x per year (b) At what rate is it growing when t = 10? ner year

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section: Chapter Questions

Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...

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An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000 Compare the values of the account after 9 yearswhen the interest is compounded annually, quarterly,monthly, and continuously.
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