If $4000 is invested at an interest rate of 9.25% per year, compounded continuously, find the value of the investment after the given number of years. (Round your answers to the nearest cent.) (a) 3 years 2$ (b) 6 years 2$ (c) 9 years 2$

If $4000 is invested at an interest rate of 9.25% per year, compounded continuously, find the value of the investment after the given number of years. (Round your answers to the nearest cent.) (a) 3 years 2$ (b) 6 years 2$ (c) 9 years 2$

Intermediate Algebra

10th Edition

ISBN:9781285195728

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter2: Equations, Inequalities, And Problem Solving

Section2.S: Summary

Problem 8S: What interest rate would you need to get to double an investment of 200 in eight years?

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Question

If $4000 is invested at an interest rate of 9.25% per year, compounded continuously, find the value of the investment after the
given number of years. (Round your answers to the nearest cent.)
(a) 3 years
24
(b) 6 years
$4
(c) 9 years
$

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