SOLUTION: If $9,000 is invested for t years at 8% interest compounded continuously, the future value is given by s = 9,000e^0.08t dollars.
a) graph this function for 0 ≤ t ≤ 15
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Question 133129: If $9,000 is invested for t years at 8% interest compounded continuously, the future value is given by s = 9,000e^0.08t dollars.
a) graph this function for 0 ≤ t ≤ 15
b) use the graph to estimate when the future will be $16,000
Thank you for your help!
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
If $9,000 is invested for t years at 8% interest compounded continuously, the future value is given by s = 9,000e^0.08t dollars.
a) graph this function for 0 < t < 15
y = 9000*e(0.08t)
b) use the graph to estimate when the future will be $16,000
t = 7.2
Cheers,
Stan H.
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