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The future value of$1000after t years invested at4%compounded continuously is f ( t ) =1000 e 0.04 t dollars. (a) Write the rate-of-change function for
The future value of$1000aftertyears invested at4%compounded continuously is
f(t) =1000e0.04tdollars.
(a) Write the rate-of-change function for the value of the investment. (Hint:Letb=e0.04
and use the rule forf(x) =bx.)
f'(t) =dollars per year
(b) Calculate the rate of change of the value of the investment after12years. (Round your answer to three decimal places.)
f'(12) = dollars per year
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