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Suppose that $ 14,743 is invested at an interest rate of 5.7 % per year, compounded continuously. Find the exponential function that describes the...

Suppose that ​$14,743 is invested at an interest rate of 5.7% 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?

Top Answer

here P = $14,743 r =5.7% = 0.057 So exponential function which tells the future value(A) in account is A=14743  e ​ 0 .... View the full answer

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Other Answers

Exponential function that gives the amount is 14743*(e (0.057)*t ) . Balance in the account... View the full answer

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