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