Suppose that $11,638 is invested at an interest rate of 6.6% 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?
(Simplify your answers. Round to one decimal place as needed.)
Use the formula for continuous compounding is A = Pe rt and plug in... View the full answer
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The exponential function that describes the amount in the account after time t, in years is 11638*e... View the full answer