If an amount Po is invested in the Mandelbrot Bond Fund and interest is compounded continuously at 6.8% per year, the balance P grows at the rate given dP = 0.068P. dt a) Find the function that satisfies the equation. Write it in terms of Po and 0.068. b) Suppose that $1500 is invested. What is the balance after 1 year? After 3 years? c) What is the rate of change of the balance after 1 year? After 3 years? a) P(t) = b) The balance after 1 year is $ The balance after 3 years is $ (Type integers or decimals rounded to two decimal places as needed.) c) The rate of change of the balance after 1 year is The rate of change of the balance after 3 years is (Type integers or decimals rounded to two decimal places as needed.)

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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If an amount Po is invested in the Mandelbrot Bond Fund and interest is compounded continuously at 6.8% per year, the balance P grows at the rate given
dP
= 0.068P.
dt
a) Find the function that satisfies the equation. Write it in terms of Po and 0.068.
b) Suppose that $1500 is invested. What is the balance after 1 year? After 3 years?
c) What is the rate of change of the balance after 1 year? After 3 years?
a) P(t) =
b) The balance after 1 year is $. The balance after 3 years is $
(Type integers or decimals rounded to two decimal places as needed.)
c) The rate of change of the balance after 1 year is
The rate of change of the balance after 3 years is
(Type integers or decimals rounded to two decimal places as needed.)
Transcribed Image Text:If an amount Po is invested in the Mandelbrot Bond Fund and interest is compounded continuously at 6.8% per year, the balance P grows at the rate given dP = 0.068P. dt a) Find the function that satisfies the equation. Write it in terms of Po and 0.068. b) Suppose that $1500 is invested. What is the balance after 1 year? After 3 years? c) What is the rate of change of the balance after 1 year? After 3 years? a) P(t) = b) The balance after 1 year is $. The balance after 3 years is $ (Type integers or decimals rounded to two decimal places as needed.) c) The rate of change of the balance after 1 year is The rate of change of the balance after 3 years is (Type integers or decimals rounded to two decimal places as needed.)
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