Question

You invest $9000 in a mutual fund with an annual yield of 8.0% and the interest is reinvested every four months. The associated exponential function is $A(t) = 9000(1+0.08/3)^{(3t)}$ The value of the investment after seven years is $ The value of the investment passes $11,000 in year $t = Answer must be a whole number. Use the Function Evaluator and Grapher or a table in your graphing calculator to obtain the last answer.

          You invest $9000 in a mutual fund with an annual yield of 8.0% and the interest is reinvested every four months.
The associated exponential function is $A(t) = 9000(1+0.08/3)^{(3t)}$
The value of the investment after seven years is $
The value of the investment passes $11,000 in year $t = 
Answer must be a whole number.
Use the Function Evaluator and Grapher or a table in your graphing calculator to obtain the last answer.

You invest 9000 in a mutual fund with an annual yield of 8.0% and the interest is reinvested every four months.
The associated exponential function isA(t) = 9000(1+0.08/3)^(3t)The value of the investment after seven years is
The value of the investment passes 11,000 in yeart =
Answer must be a whole number.
Use the Function Evaluator and Grapher or a table in your graphing calculator to obtain the last answer.

Added by Maria T.

Calculus: Early Transcendentals

James Stewart 8th Edition

Instant Answer

Solved by Expert Donna Densmore

12/03/2022

Step 1

08/3))^3t. Substitute t=7 into the function: A(7) = 9000(1+(0.08/3))^(3*7) A(7) = 9000(1+0.02666666667)^21 A(7) = 9000(1.02666666667)^21 A(7) ≈ 9000(1.747) A(7) ≈ 15723.33 Show more…

Show all steps

Thanks for your feedback!

You invest $9000 in a mutual fund with an annual yield of 8.0% and the interest is reinvested every four months. The associated exponential function is A(t)=9000(1+(0.08)/(3))^(^(^()))(3t) The value of the investment after seven years is $ The value of the investment passes $11,000 in year t= Answer must be a whole number. Use the Function Evaluator and Grapher or a table in your graphing calculator to obtain the last answer. You invest $9000 in a mutual fund with an annual yield of 8.0% and the interest is reinvested every four months The associated exponential function is At=90001+0.08/3^3t Check Clear Free Hint The value of the investment after seven years is $ Check Clear Free Hint The value of the investment passes $11,000 in year t= Check Clear Hint Answer must be a whole number Use the Function Evaluator and Grapher or a table in your graphing calculator to obtain the last answer.