A woman invests $6400 in an account that pays 6% interest per year, compounded continuously. (a) What is the amount after 2 years? (Round your answer to the nearest cent.) $ (b) How long will it take for the amount to be $9000? (Round your answer to two decimal places.) yr
Added by Elijah C.
Step 1
06 \) (interest rate) \( t = 2 \) years Show more…
Show all steps
Close
Your feedback will help us improve your experience
Victor Salazar and 67 other Algebra educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
A woman invests $6200 in an account that pays 6% interest per year, compounded continuously. (a) What is the amount after 2 years? (Round your answer to the nearest cent.) $ (b) How long will it take for the amount to be $9000? (Round your answer to two decimal places.) yr
Jim L.
Gregory H.
$$ \begin{array}{l}{\text { Compound Interest A woman invests } \$ 6500 \text { in an account }} \\ {\text { that pays } 6 \% \text { interest per year, compounded continuously. }} \\ {\text { (a) What is the amount after } 2 \text { years? }} \\ {\text { (b) How long will it take for the amount to be } \$ 8000 ?}\end{array} $$
Exponential and Logarithmic Functions
Exponential and Logarithmic Equations
Recommended Textbooks
Elementary and Intermediate Algebra
Algebra and Trigonometry
Transcript
Watch the video solution with this free unlock.
EMAIL
PASSWORD