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Suppose that $11,000 is invested in a savings account paying 5.3% interest per year. (a) Write the formula for the amoun
Posted: Sat Jul 09, 2022 1:59 pm
by answerhappygod
- Suppose That 11 000 Is Invested In A Savings Account Paying 5 3 Interest Per Year A Write The Formula For The Amoun 1 (12.24 KiB) Viewed 45 times
Suppose that $11,000 is invested in a savings account paying 5.3% interest per year. (a) Write the formula for the amount A in the account after t years if interest is compounded monthly. A(t)= (b) Find the amount in the account after 4 years if interest is compounded daily. (Round your answer to two decimal places.) (c) How long will it take for the amount in the account to grow to $20,000 if interest is compounded continuously? (Round your answer to two decimal places.)