1. How long will it take for $800 to double if it is invested at 10% annual interest compounded 2 times a

year? Enter in exact calculations or round to 3 decimal places. It will take ______ years to double. How

long will it take if the interest is compounded continuously? Compounded continuously, it would only

take ______ years.

2. Suppose you deposit $1600 in an account with an annual interest rate of 7%compounded quarterly. Use

the formula A=P(1+r/n)^nt and round each answer to 2 decimal places, if necessary. (a) Find an equation

that gives the amount of money in the account after t years. A(t)=_____ (b) Find the amount of money in

the account after 9 years. After 9 years, there will be $____ in the account. (c) How many years will i

take for the account to contain $3200 It will take ______ years for there to be $3200 in the account. (d) If

the same account and interest were compounded continuously, how much money would the account

contain after 9 years? With continuous compounding interest, there would be $______ in the account

after 9 years.