When an initial amount of money, A, in dollars, is invested into an account that earns interest continuously, the Future Value of the account after t years is given by the formula: F(t) = Aet, where r is the annual interest rate earned by the account. Let A = $16,000 and r = 7%. A) What is the value of the account, in dollars, after 17 years? Give your answer rounded to two decimal places. Answer $ B) What is the exact instantaneous rate of change of the value of the account at exactly 18 years? Give your answer rounded to two decimal places. dollars per year C) At what time, in years, is the instantaneous rate of change of the value of the account increasing by $31,134.88 per year? If necessary, round your answer to two decimal places. Answer: Answer: After years. D) What is the average rate of change of the future value of the account between year 17 and year 19 (i.e. slope of the secant line connecting the points)? (Round to the nearest penny/cent.) dollars per year. (Round to two decimal places.) Answer:

When an initial amount of money, A, in dollars, is invested into an account that earns interest continuously, the Future Value of the account after t years is given by the formula: F(t) = Aet, where r is the annual interest rate earned by the account. Let A = $16,000 and r = 7%. A) What is the value of the account, in dollars, after 17 years? Give your answer rounded to two decimal places. Answer $ B) What is the exact instantaneous rate of change of the value of the account at exactly 18 years? Give your answer rounded to two decimal places. dollars per year C) At what time, in years, is the instantaneous rate of change of the value of the account increasing by $31,134.88 per year? If necessary, round your answer to two decimal places. Answer: Answer: After years. D) What is the average rate of change of the future value of the account between year 17 and year 19 (i.e. slope of the secant line connecting the points)? (Round to the nearest penny/cent.) dollars per year. (Round to two decimal places.) Answer:

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter12: Sequences, Series And Binomial Theorem

Section12.3: Geometric Sequences And Series

Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...

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