The amount of money A as a function of time in years t, given an initial amount P, an interest rate r, and compounded n times per year is: A = P(1 + r/n)nt The amount compounded continuously is: A = P ert The amount of an account at a particular time is given by: A = 5000(1 + 0.035/12)60 For how many years does this equation represent the amount? 5 years 60 years 12 years
The amount of money A as a function of time in years t, given an initial amount P, an interest rate r, and compounded n times per year is: A = P(1 + r/n)nt The amount compounded continuously is: A = P ert The amount of an account at a particular time is given by: A = 5000(1 + 0.035/12)60 For how many years does this equation represent the amount? 5 years 60 years 12 years
Chapter10: Exponential And Logarithmic Functions
Section10.2: Evaluate And Graph Exponential Functions
Problem 10.31TI: Angela invested $15,000 in a savings account. If the interest rate is 4%, how much will be in the...
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The amount of money A as a function of time in years t, given an initial amount P, an interest rate r, and compounded n times per year is:
A = P(1 + r/n)nt
The amount compounded continuously is:
A = P ert
The amount of an account at a particular time is given by:
A = 5000(1 + 0.035/12)60
For how many years does this equation represent the amount?
|
5 years |
|
60 years |
|
12 years |
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