Question: 5. (15 points) Use either A = Pert or A = P(1 + r)nt for the following problem: If $4,000 is put aside in a

5. (15 points) Use either A = Pert or A = P(1 + r)nt for the following problem: If $4,000 is put aside in a money market account with interest compounded continuously at 2.2%, find the time required for the account to earn $1,000. P=80 00 A= 7289.50 = 3% DC $ = 2 9287.50 = 8000 (1+ 0103 4 9289, 50 ~ = 1,00 75 HE 8000 109 9282+ 50 - 102 ( 1,0075)42 109 8000 log 5000 7289. 50 - 47 109 (1.0075) 109 log 9289.50 8000 log 10075

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