If $7000 is invested at 3% compounded continuously, what is the amount after 6 years? Which of the following is the appropriate formula with the correct values substituted? Select the correct choice below and, if necessary, fill in the answer boxes to complete your choice. A.
If $7000 is invested at 3% compounded continuously, what is the amount after 6 years? Which of the following is the appropriate formula with the correct values substituted? Select the correct choice below and, if necessary, fill in the answer boxes to complete your choice. A.
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Question
If $7000 is invested at 3% compounded continuously, what is the amount after 6 years?
Which of the following is the appropriate formula with the correct values substituted? Select the correct choice below and, if necessary, fill in the answer boxes to complete your choice.
A=P(1+i)n,
with
P=enter your response here,
i=enter your response here,
and
n=enter your response here
A=P(1+rt),
with
P=enter your response here,
r=enter your response here,
and
t=enter your response here
A=Pert,
with
P=enter your response here,
r=enter your response here,
and
t=enter your response here
Part 2
The amount after 6 years will be
$enter your response here.
(Round to the nearest cent.)
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