The account balance after 3 years if the interest is compounded continuously is $5,142.62
<h3>How to find compound interest?</h3>
- Principal, P = $4,700
- Time,t = 3 years
- Interest rate, r = 3%
r = 3/100
r = 0.03 rate per year,
A = Pe^rt
A = 4,700.00(2.71828)^(0.03)(3)
= 12,775.916^0.09
A = $5,142.62
Therefore, the account balance after 3 years if the interest is compounded continuously is $5,142.62
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Answer
given,
on first stop
number of car = 20 and number of trucks = 18
on second stop
number of car = 18 and number of trucks = 10
we need to calculate which rest stop has higher ratio of car to truck.
Rest Stop 1
ratio= r₁ =
r₁ =
r₁ =
Rest Stop 2
ratio= r₂ =
r₂ =
r₂=
hence, r₂ > r₁
rest stop 2 has more car to truck ratio than rest stop 1
Answer: Exponential growth