Question: I need help with this question PART IV QUESTION: Answer the question in this part. The question is worth 6 points. 15. A savings account
I need help with this question

PART IV QUESTION: Answer the question in this part. The question is worth 6 points. 15. A savings account earns interest by being compounded continuously. The account initially had $1,500 deposited in it. The worth of the account after i-years can be calculated using the formula: A(1) =1500e 03 (a) By what percent will the worth of the account increase per year? Round to the nearest hundredth of a percent. (b) To the nearest tenth of a year, how many years will it take for the worth of the account to double? (c) If another investment began with a principal of $1,200 and earned interest of 4.5% applied once per year, which investment would be worth more after 10 years? Explain
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
