Solve This Two Math Problems 1 (52.82 KiB) Viewed 20 times
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Solve This Two Math Problems 2 (38.29 KiB) Viewed 20 times
Following the birth of a child, a parent wants to make an initial investment Po that will grow to $50,000 for the child's education at age 19. Interest is compounded continuously What should the initial investment be? Such an amount is called the present value of $50,000 due 19 years from now. The present value is about $ (Do not round until the final answer. Then round to two decimal places as needed.)
Watch the video and then solve the problem given below. Click here to watch the video, Suppose that $16.124 is invested at an interest rate of 6.1% per year, compounded continuously. a) Find the exponential function that describes the amount in the account after time t, in years. b) What is the balance after 1 year? 2 years? 5 years? 10 years? c) What is the doubling time? a) The exponential growth function is p(t)=0 (Type exponential notation with positive exponents. Do not simplify. Use integers or decimals for any numbers in the equation. Round to two decimal places as needed.)
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