
Mark M. answered 12/08/21
Mathematics Teacher - NCLB Highly Qualified
A(10) = 6000(1 + 0.04)10
A(10) = 6000(1 + 0.04/4)(4)(10)
A(10) = 6000(1 + 0.04/12)(12)(10)
What is the pattern?
A(10) = 6000e(0.04)(10)
John D.
asked 12/07/21If 6000 dollars is invested in a bank account at an interest rate of 4 percent per year,
Find the amount in the bank after 10 years if interest is compounded annually:
Find the amount in the bank after 10 years if interest is compounded quarterly:
Find the amount in the bank after 10 years if interest is compounded monthly:
Finally, find the amount in the bank after 10 years if interest is compounded continuously:
Mark M. answered 12/08/21
Mathematics Teacher - NCLB Highly Qualified
A(10) = 6000(1 + 0.04)10
A(10) = 6000(1 + 0.04/4)(4)(10)
A(10) = 6000(1 + 0.04/12)(12)(10)
What is the pattern?
A(10) = 6000e(0.04)(10)
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