Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The rate of a continuous flow for a company is growing exponentially. At the beginning, the rate was $10,000 per year. By the end

image text in transcribed

The rate of a continuous flow for a company is growing exponentially. At the beginning, the rate was $10,000 per year. By the end of the first year, the rate was $10,941.74 per year. Complete parts (a) through (e) below. (a) Determine an exponential function to model the continuous money flow for this company. f(t) = (10,000) (0.09) (Type integers or decimals rounded to two decimal places as needed.) (b) Find the total money flow for the first 8 years. The total money flow over is $ 117159.25. (Do not round until the final answer. Then round to the nearest cent as needed.) (c) Find the accumulated amount of money flow at the end of 8 years if the interest rate is 6%, compounded continuously. The accumulated amount of money flow is $ (Do not round until the final answer. Then round to the nearest cent as needed.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Riemannian Geometry

Authors: Peter Petersen

3rd Edition

3319266543, 9783319266541

More Books

Students also viewed these Mathematics questions

Question

-x/2 x/4 If A = -x/2 and A-1 =6 then x equals

Answered: 1 week ago