Suppose $10,000 is invested in an account at an annual interest rate of 0.6%, compounded continuously. Let t denote the number of years after the initial investment and P(t) denote the amount of money in the account at time t. Find the amount of money in the account after 6 years. Round your answer to two decimal figures. Do not include the dollar sign in your answer. Provide your answer below: P(6)

Suppose $10,000 is invested in an account at an annual interest rate of 0.6%, compounded continuously. Let t denote the number of years after the initial investment and P(t) denote the amount of money in the account at time t. Find the amount of money in the account after 6 years. Round your answer to two decimal figures. Do not include the dollar sign in your answer. Provide your answer below: P(6)

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter8: Sequences, Series, And Probability

Section8.4: Geometric Sequences And Series

Problem 7SC

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Angela invested $15,000 in a savings account. If the interest rate is 4%, how much will be in the account in 10 years by each method of compounding? compound quarterly compound monthly compound continuously

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