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Suppose that $10,681 is invested at an interest rate of 5.6% per year, compounded continuously. a) Find the exponential function that describes the amount in the account after time t, in years. b) What is the balance after 1 year? 2 years? 5 years? 10 years? c) What is the doubling time? 4 (-- a) The exponential growth function is P(t) = (Type exponential notation with positive exponents. Do not simplify. Use integers or decimals for any numbers in the equation

Suppose that $10,681 is invested at an interest rate of 5.6% per year, compounded continuously. a) Find the exponential function that describes the amount in the account after time t, in years. b) What is the balance after 1 year? 2 years? 5 years? 10 years? c) What is the doubling time? 4 (-- a) The exponential growth function is P(t) = (Type exponential notation with positive exponents. Do not simplify. Use integers or decimals for any numbers in the equation

College Algebra
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 11T: Suppose that $12,000 is invested in a saving account paying 5.6% interest per year. (a)Write the...
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Suppose that $10,681 is invested at an interest rate of 5.6% per year, compounded continuously. a) Find the exponential function that describes the amount in the account after time t, in years. b) What is the balance after 1 year? 2 years? 5 years? 10 years? c) What is the doubling time? n example 4 a) The exponential growth function is P(t) = (Type exponential notation with positive exponents. Do not simplify. Use integers or decimals for any numbers in the equation.) Get more help. (--
Transcribed Image Text:Suppose that $10,681 is invested at an interest rate of 5.6% per year, compounded continuously. a) Find the exponential function that describes the amount in the account after time t, in years. b) What is the balance after 1 year? 2 years? 5 years? 10 years? c) What is the doubling time? n example 4 a) The exponential growth function is P(t) = (Type exponential notation with positive exponents. Do not simplify. Use integers or decimals for any numbers in the equation.) Get more help. (--
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