Mathematics
Mathematics, 27.07.2019 04:20, Jessieileen

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 8 years when $9000 is deposited in a savings account drawing 5 1 4 % annual interest compounded continuously. (round your answer to the nearest cent.) $ (b) in how many years will the initial sum deposited have doubled? (round your answer to the nearest year.) years (c) use a calculator to compare the amount obtained in part (a) with the amount s = 9000 1 + 1 4 (0.0525) 8(4) that is accrued when interest is compounded quarterly. (round your answer to the nearest cent.) s = $

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