31.) The continuous compound interest formula is given byA = Pertwhere A is the accumulated amount, after an initial investment of P dollars is invested for t years, atannual interest rate r, compounded continuously.Use the formula above to determine the accumulated amount for each of the following different scenarios.Round solutions to the nearest cent.If $44,000 is invested for 23 years and earns 11.5% interest, compounded continuously, the accumulatedamount is:A=If $25,000 is invested for 18 years and earns 6.5% interest, compounded continuously, the accumulatedamount is:A=If $35,000 is invested for 22 years and earns 7.5% interest, compounded continuously, the accumulatedamount is:A =If $11,000 is invested for 27 years and earns 5.5% interest, compounded continuously, the accumulatedamount is:A =

1) P=$44000Time(t)=23 yearsRate(r)=11.5% or 0.115The formula is given by,

If $35,000 is invested for 22 years and earns 7.5% interest, compounded continuously, the accumulated amount is: A = If $11,000 is invested for 27 years and earns 5.5% interest, compounded continuously, the accumulated amount is:

If $35,000 is invested for 22 years and earns 7.5% interest, compounded continuously, the accumulated amount is: A = If $11,000 is invested for 27 years and earns 5.5% interest, compounded continuously, the accumulated amount is:

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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Question

31.)

The continuous compound interest formula is given by
A = Pert
where A is the accumulated amount, after an initial investment of P dollars is invested for t years, at
annual interest rate r, compounded continuously.
Use the formula above to determine the accumulated amount for each of the following different scenarios.
Round solutions to the nearest cent.
If $44,000 is invested for 23 years and earns 11.5% interest, compounded continuously, the accumulated
amount is:
A=
If $25,000 is invested for 18 years and earns 6.5% interest, compounded continuously, the accumulated
amount is:
A=
If $35,000 is invested for 22 years and earns 7.5% interest, compounded continuously, the accumulated
amount is:
A =
If $11,000 is invested for 27 years and earns 5.5% interest, compounded continuously, the accumulated
amount is:
A =

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