Answered

Explore Westonci.ca, the premier Q&A site that helps you find precise answers to your questions, no matter the topic. Explore in-depth answers to your questions from a knowledgeable community of experts across different fields. Our platform provides a seamless experience for finding reliable answers from a network of experienced professionals.

Suppose you invest $580 at 10% compounded continuously , write an exponential function to model the amount in your investment account ?

Sagot :

Interest=percent times rate(in years) times principal.
Or I=PRT
So you invest $580 so I=$580 Rate would be .10 and time would be 1 for one year. So if you put this into the formula you get
$580=P(.65)(1)
So $580=.65P so $580/.65=P so P is approximately $892.31 per year.
Thank you for your visit. We are dedicated to helping you find the information you need, whenever you need it. We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Get the answers you need at Westonci.ca. Stay informed with our latest expert advice.