Question: Problem 7: Betty and Bob have lost some data for an account that earns interest at a fixed continuous rate per annum, R. a. After

 Problem 7: Betty and Bob have lost some data for an

Problem 7: Betty and Bob have lost some data for an account that earns interest at a fixed continuous rate per annum, R. a. After 3 years and 6 months the account value is $5,600. After 8 years and 9 months the account value is $12,300. Algebraically find the rate R, and the initial investment, P. Your final answers should be correct to 3 places after the decimal point. 1). Algebraically generalize your work. After T1 years the account value was A. After T2 years the account value was 142. Find the continuous per annum rate, R, and the initial investment, P. Be sure to show all of your algebraic work. Take care to simplify the expression for P into a quotient with a nice power of A; in the numerator and a nice power of A, in the denominator. The powers (exponents) should only involve T1 and T2. E should not appear. The section of your text on exponents and logarithms should be W :33; V a helpful. Ar

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