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Unformatted text preview: . If , then decreases over time, and the phenomenon follows an exponential decay model . Money in an account having continuously compounded interest follows an exponential growth model. The initial investment, , is the principal . In the current problem, , years, and . We must find . Substituting into the equation above, we get the following. We solve for as follows. Here is the answer. For additional explanation, see your textbook: Section 4.5: Modeling with Exponential and Logarithmic Functions...
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- Spring '08