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compounded quarterly. Esmeralda deposits $5,000 into the account. The account balance can be modeled by the exponential formula S(t)=P(1+rn)ntS(t)=P(1+rn)nt, where SS is the future value, PP is the present value, rr is the annual percentage rate written as a decimal, nn is the number of times each year that the interest is compounded, and tt is the time in years. (A) What values should be used for PP, r, and nn? P=P= ,  r=r= ,  n=n=  (B) How much money will Esmeralda have in the account in 99 years? Answer = $ .

compounded quarterly. Esmeralda deposits $5,000 into the account. The account balance can be modeled by the exponential formula S(t)=P(1+rn)ntS(t)=P(1+rn)nt, where SS is the future value, PP is the present value, rr is the annual percentage rate written as a decimal, nn is the number of times each year that the interest is compounded, and tt is the time in years. (A) What values should be used for PP, r, and nn? P=P= ,  r=r= ,  n=n=  (B) How much money will Esmeralda have in the account in 99 years? Answer = $ .

College Algebra
College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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A bank features a savings account that has an annual percentage rate of r=5.5r=5.5% with interest compounded quarterly. Esmeralda deposits $5,000 into the account.

The account balance can be modeled by the exponential formula S(t)=P(1+rn)ntS(t)=P(1+rn)nt, where SS is the future value, PP is the present value, rr is the annual percentage rate written as a decimal, nn is the number of times each year that the interest is compounded, and tt is the time in years.

(A) What values should be used for PP, r, and nn?

P=P= ,  r=r= ,  n=n= 

(B) How much money will Esmeralda have in the account in 99 years?
Answer = $ .

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