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An initial investment amount P, an annual interest rater, and a time t are given. Find the future value of the investment when the interest is compounded (a) annually, (b) monthly, (c) daily, and (d) continuously. Then find (e) the doubling time T for the given interest rate. Round to the nearest cent or nearest tenth of a year as needed. P = $1500, r = 3.25%, t = 5 yr O A. (a) $1760.12; (b) $1764.28; (c) $1764.64; (d) $1764.70; (e) 21.6 yr O B. (a) $1760.12; (b) $1764.31; (c) $1764.66; (d) $1764.70; (e) 21.6 yr O C. (a) $1760.12; (b) $1764.31; (c) $1764.64; (d) $1764.67; (e) 21.3 yr O D. (a) $1760.12; (b) $1764.28; (c) $1764.66; (d) $1764.67; (e) 21.3 yr

An initial investment amount P, an annual interest rater, and a time t are given. Find the future value of the investment when the interest is compounded (a) annually, (b) monthly, (c) daily, and (d) continuously. Then find (e) the doubling time T for the given interest rate. Round to the nearest cent or nearest tenth of a year as needed. P = $1500, r = 3.25%, t = 5 yr O A. (a) $1760.12; (b) $1764.28; (c) $1764.64; (d) $1764.70; (e) 21.6 yr O B. (a) $1760.12; (b) $1764.31; (c) $1764.66; (d) $1764.70; (e) 21.6 yr O C. (a) $1760.12; (b) $1764.31; (c) $1764.64; (d) $1764.67; (e) 21.3 yr O D. (a) $1760.12; (b) $1764.28; (c) $1764.66; (d) $1764.67; (e) 21.3 yr

Intermediate Algebra
Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter10: Exponential And Logarithmic Functions
Section10.2: Evaluate And Graph Exponential Functions
Problem 10.32TI: Allan invested $10,000 in a mutual fund. If the interest rate is 5%, how much will be in the account...
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Part 1
An initial investment amount​ P, an annual interest rate​ r, and a time t are given. Find the future value of the investment when the interest is compounded​ (a) annually,​ (b) monthly,​ (c) daily, and​ (d) continuously. Then find​ (e) the doubling time T for the given interest rate. Round to the nearest cent or nearest tenth of a year as needed.
 
Pequals=​$1500,
requals=​3.25%,
tequals=5
yr
 
 
 

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Part 1
 
A.
​(a) $1760.12;​ (b) $1764.28;​ (c) $1764.64;​ (d) $1764.70;​ (e) 21.6 yr
 
B.
​(a) $1760.12;​ (b) $1764.31;​ (c) $1764.66;​ (d) $1764.70;​ (e) 21.6 yr
 
C.
​(a) $1760.12;​ (b) $1764.31;​ (c) $1764.64;​ (d) $1764.67;​ (e) 21.3 yr
 
D.
​(a) $1760.12;​ (b) $1764.28;​ (c) $1764.66;​ (d) $1764.67;​ (e) 21.3 yr
An initial investment amount P, an annual interest rater, and a time t are given. Find the future value of the investment when the interest is compounded (a) annually, (b) monthly, (c) daily, and (d) continuously. Then find (e) the doubling time T for the given interest rate. Round to the nearest cent or nearest tenth of a year as needed. P = $1500, r = 3.25%, t = 5 yr O A. (a) $1760.12; (b) $1764.28; (c) $1764.64; (d) $1764.70; (e) 21.6 yr O B. (a) $1760.12; (b) $1764.31; (c) $1764.66; (d) $1764.70; (e) 21.6 yr O C. (a) $1760.12; (b) $1764.31; (c) $1764.64; (d) $1764.67; (e) 21.3 yr O D. (a) $1760.12; (b) $1764.28; (c) $1764.66; (d) $1764.67; (e) 21.3 yr
Transcribed Image Text:An initial investment amount P, an annual interest rater, and a time t are given. Find the future value of the investment when the interest is compounded (a) annually, (b) monthly, (c) daily, and (d) continuously. Then find (e) the doubling time T for the given interest rate. Round to the nearest cent or nearest tenth of a year as needed. P = $1500, r = 3.25%, t = 5 yr O A. (a) $1760.12; (b) $1764.28; (c) $1764.64; (d) $1764.70; (e) 21.6 yr O B. (a) $1760.12; (b) $1764.31; (c) $1764.66; (d) $1764.70; (e) 21.6 yr O C. (a) $1760.12; (b) $1764.31; (c) $1764.64; (d) $1764.67; (e) 21.3 yr O D. (a) $1760.12; (b) $1764.28; (c) $1764.66; (d) $1764.67; (e) 21.3 yr
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