If $7000 is invested at 3% compounded continuously, what is the amount after 6 years? Which of the following is the appropriate formula with the correct values substituted? Select the correct choice below and, if necessary, fill in the answer boxes to complete your choice. A.
If $7000 is invested at 3% compounded continuously, what is the amount after 6 years? Which of the following is the appropriate formula with the correct values substituted? Select the correct choice below and, if necessary, fill in the answer boxes to complete your choice. A.
Algebra: Structure And Method, Book 1
(REV)00th Edition
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Chapter7: Applying Fractions
Section7.9: Negative Exponents
Problem 25OE
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Question
If $7000 is invested at 3% compounded continuously, what is the amount after 6 years?
Which of the following is the appropriate formula with the correct values substituted? Select the correct choice below and, if necessary, fill in the answer boxes to complete your choice.
A=P(1+i)n,
with
P=enter your response here,
i=enter your response here,
and
n=enter your response here
A=P(1+rt),
with
P=enter your response here,
r=enter your response here,
and
t=enter your response here
A=Pert,
with
P=enter your response here,
r=enter your response here,
and
t=enter your response here
Part 2
The amount after 6 years will be
$enter your response here.
(Round to the nearest cent.)
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