Use the exponential growth model to calculate the amount of money you will have in the bank after 12 years if you deposit $31,000 into an account that pays 2.6% interest compounded continously.

Q: Mary invests $3500 at 2.75% compounded continuously. How much money will be in the account after 6…

A: Given that Invested amount=$3500 Interest compounded continuously =2.75% Time=6 years To find  How…

Q: A fireman invests $40,000 in a retirement account for 2 years. The interest rate is 6%, compounded…

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Q: Karine invests $6,100 in an account with an annual interest rate of 4.5% compounded daily for 2…

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Q: The Fogler family deposits $8,500 into a savings account that yields 6.75% interest compounded…

A: The explanation of answer as follows :-

Q: You deposit $4000 in an account earning 2% interest compounded continuously. How much will you have…

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Q: How much money should be deposited today in an account that earns 6% compounded semiannually so that…

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Q: You deposit $5000 in an account earning 3% interest compounded continuously. How much will you have…

A: See the attachment

Q: Tessa invests $9600 in a new savings account which earns 4.6% annual interest, compounded…

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Q: Jackson deposited $5,000 at 3.6% interest rate, compounded continuously when he was 18 years old.…

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Q: Sue puts $6000 in an investment account that earns 4% annual interest compounded continuously.  When…

A: Here, rate, r=0.04 initial investment, P=6000 Final investment, A=20,000

Q: You deposit $2000 in an account earning 7% interest compounded continuously. How much will you have…

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Q: How much money should be deposited today in an account that earns 8% compounded monthly so that it…

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Q: When you were born, your parents wanted to deposit money into an account to help with college…

A: Let the principal amount= P Final amount= A= 50000 Time= t= 18 years Interest= r= 3.25%=0.0325

Q: Mary invests $3500 at 2.75% compounded continuously. How much money will be in the account after 6…

A: Given Principal amount p = $3500 Interest rate r = 2.75% = 0.0275 Time t = 6 years

Q: your account has $26,511.67 in it on the day you withdraw your money. You know that the account…

A: If the interest is compounded continuously, then the formula used is A=Pert, where A is the final…

Q: You want to have a $50,000 college fund in 12

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Q: Angel invests in a continuously compounded account at 2.6% interest for 12 years. At the end of…

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Q: Use the exponential growth formula to calculate the amount of money you will have in the bank after…

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Q: You deposit $5000 in an account earning 6% interest compounded continuously. How much will you have…

A: We know that final amount A=Pert Given, P=Initial amount=$5000           r=rate of interest=6%=0.06…

Differential Equations

Have you ever observed the movement of the satellites and rockets or how the planets go around the sun in their orbits? How will you determine their motion? Definitely they follow some scientific laws and these kinds of problems are framed as differential equations.