If $1000 is deposited in a bank account that pays 3% interest compounded continuously, the balance B

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If $1000 is deposited in a bank account that pays 3% interest compounded continuously, the balance B after t years is

B = f(t) = 1000e^0.03t.

(a) Find f¨(t).
(b) Find f(10) and f¨(10). Give units.

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Applied Calculus

ISBN: 9781119275565

6th Edition

Authors: Deborah Hughes Hallett, Patti Frazer Lock, Andrew M. Gleason, Daniel E. Flath, Sheldon P. Gordon, David O. Lomen, David Lovelock, William G. McCallum, Brad G. Osgood, Andrew Pasquale

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Question Posted: Apr 12, 2023 04:52 AM

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If $1000 is deposited in a bank account that pays 3% interest compounded continuously, the balance B

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Step by Step Answer:

a We have ft 1000e 003t 003 30e 003t b Substituting t 1...View the full answer

Applied Calculus

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