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Suppose that $12,398 is invested at an interest rate of 5.3% per year, compounded continuously. a] Find the exponential function that describes the amount in
Suppose that $12,398 is invested at an interest rate of 5.3% per year, compounded continuously. a] Find the exponential function that describes the amount in the account after time t, in years. b] What is the balance after 1 year? 2 years? 5 years? 10 years? c} What is the doubling time? a] The exponential growth function is P{t}= E. {Type exponential notation with positive exponents. Do not simplify. Use integers or decimals for any numbers in the equation.)
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