a lump sum of $2000 is invested at 4.2% compounded continuously. (a) write the function for the model that gives the future valu

Question

11 months ago

11

e of the investment in dollars after t years. f(t)

1 answer:

katrin2010 [14] · Answer 1 · 2024-07-07T18:21:24+03:00

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.

Learn more about Compound Interest here:

#SPJ4