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megan campbell

megan c.

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Carolyn Behr-Jerome verified

Numerade educator

Suppose that 7000 dollars is deposited into a savings account earning an interest rate of 9.1% compounded continuously. How long will it take for this investment to be worth 9500 dollars?

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INSTANT ANSWER

Suppose that 7500 dollars is deposited into a savings account earning an interest rate of 4.5% compounded continuously. Find a formula for A(t), the account balance after t years. A(t)= What is the account balance after 5 years? Balance = dollars How fast is the balance growing after 5 years? Rate of Growth = dollars per year

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Carolyn Behr-Jerome verified

Numerade educator

Suppose that 10000 dollars is deposited into a savings account earning an interest rate of 8% compounded yearly. How long will it take for this investment to double in value?

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Gretchen Laviolette verified

Numerade educator

Frank borrows 7000 dollars at an interest rate of 5.3% compounded annually. How much will he owe after 6 years? (Assuming that he makes no payments during this time.) Loan Balance = dollars

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Jeff Koegel verified

Numerade educator

Suppose that 2400 dollars is deposited into a savings account earning an interest rate of 5% compounded monthly. Find a formula for A(t), the account balance after t years. A(t)= What is the account balance after 3 years? Balance = dollars

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