SOLUTION: Suppose that $1000 is invested in a savings account where interest is compounded continuously at 4.5% per year. Write down the equation P(t) for the balance in the account after t

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Question 202964: Suppose that $1000 is invested in a savings account where interest is compounded continuously at 4.5% per year. Write down the equation P(t) for the balance in the account after t years.
Answer by solver91311(24713) About Me  (Show Source):
You can put this solution on YOUR website!


For continuous compounding

So:




John