When interest is compounded continuously, the amount of money increases at a rate proportional to the amount s present at time t, that is, ds/dt = rs, where r is the annual rate of interest. (a) find the amount of money accrued at the end of 5 years when $9000 is deposited in a savings account drawing 5 1 4 % annual interest compounded continuously. (round your answer to the nearest cent.) ?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “When interest is compounded continuously, the amount of money increases at a rate proportional to the amount s present at time t, that is, ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Total revenue is defined as a. price minus quantity sold. b. price divided by quantity sold. c. price multiplied by quantity sold. d. quantity divided by price sold. e. price plus quantity sold.
Answers (1)
Which principle would a company be violating if it withheld information that would make a difference to users of financial statements
Answers (1)
Althea, black, has been a deejay for a local Christian music station for several years. The station got a new general manager and within a month he terminated Althea.
Answers (1)
Early in 2017, Rivers Company switched to a JIT (just-in-time) inventory system. Financial information for the two most recent years are listed here: How much did inventory turnover increase as a result of the switch to the JIT system
Answers (1)
Someone in a professional or clerical job who usually earns a salary A. white-collar worker B. learning effect C. labor union D. affirmative action E. glass ceiling
Answers (1)
New Questions in Business
The government plans to ease regulations on the amount of mercury allowed into the atmosphere even though mercury is proved to be hazardous to people and wildlife. What might be the government's reasoning?
Answers (1)
The agency responsible for regulating the money supply in the united states is
Answers (1)
Matching the industry average spending on advertising best describes the:
Answers (1)
A "Name That Tune" contest has a grand prize of $500,000. However, the contest stipulates that the winner will receive just $200,000 immediately, and $30,000 at the end of each of the next 10 years.
Answers (1)
The purpose of this phase is to provide ongoing assistance for an information system and its users after the system is implemented. what is this phase?
Answers (1)