The function for the model that gives the future value of the investment in dollars after t years is: f(t) = 2000.e⁰·°⁴²t
Give, a lump sum of $2000 is invested at 4.2% compounded continuously.
Hence we have:
P = $2000
rate of interest = 4.2%
years = t
we know that A = Pe^rt
Substitute the above values in the formula.
Amount = f(t)
f(t) = 2000.e⁰·°⁴²t
hence we get the function for the model that gives the future value of the investment is f(t) = 2000.e⁰·°⁴²t
Therefore we get the required function.
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