Suppose that $16,341 is invested at an interest rate of 6.8% per year, compounded continuously.
Find the exponential function that describes the amount in the account after time t, in years.
What is the balance after 1 year? 2 years? 5 years? 10 years?
What is the doubling time?
our Principal is P = $16,341 rate r= 6.8% = 0.068 the exponential function that describes the amount(A) in the account... View the full answer