Gretchen invested $1000 in a certificate of deposit that paid interest at a rate of 9% per year. How much was the CD worth at th
1 answer:
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Answer:
a)
b)
Step-by-step explanation:
Given Data:
Interest rate= per year
No. of years=
Rate of continuous money flow is given by the function
a) to find the present value of money
Put f(t)=2000 and n=10 years and r=0.08
Now integrate
(b) to find the accumulated amount of money at t=10
Where P is the present worth already calculated in part a