Answer Happy

14. Sarah invested $9500 into an account that earns 5% interested compounded montny. (a) Find the effective annual rate for the situation above. Round the percentage to two decimals. (b) Find the amount of money in the account after 7 years. (c) Find the amount of the money in the account after 7 years if the account gains 5% interest compounded continuously.
15. Solve the exponential equation 42x=36−x2. Give an exact solution and an approximation to 4 decimals.