With t in years, the formulas for balances of two bank accounts, in dollars, are: f(t) = 1100(1.05)t and g(t) = 1500e0.05t (a) Describe the balance of the account modeled by f. (b) Describe the balance of the account modeled by g. State the effective annual yield. (c) What continuous rate has the same effective growth rate as the rate at which f(t) grows?
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With t in years, the formulas for balances of two bank accounts, in dollars, are: f(t) = 1100(1.05)t and g(t) = 1500e0.05t
(a) Describe the balance of the account modeled by f.
(b) Describe the balance of the account modeled by g. State the effective annual yield.
(c) What continuous rate has the same effective growth rate as the rate at which f(t) grows?
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