15. Jacob invests $8,500 in a savings account that promises a nominal rate of 2% continuously compounded.
(a) Write an equation for the amount this investment
would be worth after 1-years.
[3 points)
(b) How much would the investment be worth after
20 years?
14 points)
(c) Algebraically determine the time it will take for
the investment to double. Round to the nearest
tenth of a year.
[7 points]

(a)

(b) A = $12680.37

(c)

Explanation:

Given:

Principal, P = $8,500

Rate of interest, r = 2%

Compounded continuously, n = 365

(a)

Time, t = 1

Amount, A equation = ?

We know:

On substituting the value we get:

(b)

Amount after 20 years = ?

t = 20

(c)

Amount to double = 8500 X 2

                             = $17000

Time, t = ?

0.84 dang lotta people are looking for this lol or if you round up its 1 but the overall answer to that is 0.84

step-by-step explanation:

the answer is 0.000652422

but if you ment to ask what is 6131 divided by 4, it is 1532.75.

step-by-step explanation: