Suppose $500 is invested in an account at an annual interest rate of r = 8.2%, 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 15 years.
Suppose $500 is invested in an account at an annual interest rate of r = 8.2%, 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 15 years.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section7.7: Writing Exponential Functions
Problem 31HP
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Question
![Suppose $500 is invested in an account at an
annual interest rate of r = 8.2%, 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 15
years.
Round your answer to two decimal figures. Do not
include the dollar sign in your answer.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb77bdbb3-d9ba-4cc3-a731-afe5fb0d1762%2Fab903202-2557-4cfb-86d4-99ff011b6bf0%2Fk2yjtcj_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Suppose $500 is invested in an account at an
annual interest rate of r = 8.2%, 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 15
years.
Round your answer to two decimal figures. Do not
include the dollar sign in your answer.
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