42. Suppose an investment account is opened with an initial deposit of $12,000 earning 7.2% interest compounded continuously. How much will the account be worth after 30 years?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
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Determine whether the equation represents continuous growth, continuous decay, or neither. Explain.

42. Suppose an investment account is opened with an
initial deposit of $12, 000 earning 7.2% interest
compounded continuously. How much will the account
be worth after 30 years?
Transcribed Image Text:42. Suppose an investment account is opened with an initial deposit of $12, 000 earning 7.2% interest compounded continuously. How much will the account be worth after 30 years?
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