Suppose A dollars is deposited in a savings account paying 8.0% interest compounded continuously. After x years the account will contain A(x) = A, e0.08x dollars. If $320 is initially deposited, after how many years (to the nearest tenth) would the account have $ 2450 in it?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...
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Suppose A dollars is deposited in a savings account paying 8.0% interest compounded
continuously. After x years the account will contain A(x) = A,
e0.08x dollars. If $320 is
initially deposited, after how many years (to the nearest tenth) would the account have $
2450 in it?
Transcribed Image Text:Suppose A dollars is deposited in a savings account paying 8.0% interest compounded continuously. After x years the account will contain A(x) = A, e0.08x dollars. If $320 is initially deposited, after how many years (to the nearest tenth) would the account have $ 2450 in it?
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