For Exercises 61-70, use the model A = P e r t or A = P ( 1 + r n ) r t , where A is the future value of P dollars invested at interest rate r compounded continuously or n times per year for t years. (See Example 11) If $4000 is put aside in a money market account with interest compounded continuously at 2.2%, find the time required for the account to earn $1000. Round to the nearest month.
For Exercises 61-70, use the model A = P e r t or A = P ( 1 + r n ) r t , where A is the future value of P dollars invested at interest rate r compounded continuously or n times per year for t years. (See Example 11) If $4000 is put aside in a money market account with interest compounded continuously at 2.2%, find the time required for the account to earn $1000. Round to the nearest month.
Solution Summary: The author calculates the time required for an account to earn 1000 in a money market account with interest compounded continuously.
For Exercises 61-70, use the model
A
=
P
e
r
t
or
A
=
P
(
1
+
r
n
)
r
t
, where A is the future value of P dollars invested at interest rate r compounded continuously or n times per year for t years. (See Example 11)
If $4000 is put aside in a money market account with interest compounded continuously at 2.2%, find the time required for the account to earn $1000. Round to the nearest month.
Solve questions by Course Name (Ordinary Differential Equations II 2)
please Solve questions by Course Name( Ordinary Differential Equations II 2)
InThe Northern Lights are bright flashes of colored light between 50 and 200 miles above Earth.
Suppose a flash occurs 150 miles above Earth. What is the measure of arc BD, the portion of Earth
from which the flash is visible? (Earth’s radius is approximately 4000 miles.)
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