Use the model A= Pe" or A= P(1+ ) , where A is the future value of P dollars invested at interest rate / compounded continuously or n times per year for t years. $20,000 is invested at 3% interest compounded monthly. How long will it take for the investment to double? Round to the nearest tenth of a year. It will take approximately years for the investment to double. X Use the model A = Pe" or A= P(1+ ), where A is the future value of P dollars invested at interest rate r compounded continuously or n times per year t years. A $25,000 investment grows to $52,680 in 15 years compounded monthly. Find the interest rate. Round to the nearest percent. The interest rate is approximately %. X 5 Use the model A = Pe" or A = P(1+ ), where A is the future value of P dollars invested at interest rate / compounded continuously or n times per year for t years. If $10,000 is put aside in a money market account with interest compounded monthly at 2.2%, find the time required for the account to earn $2000. Round to the nearest month. It will take approximately years and months for the account to earn $2000. X Mr. and Mrs. Griffin hope to send their daughter to college in eleven years. How much money should they invest now at an interest rate of 8% per year, compounded continuously, in order to be able to contribute $9500 to her education? Do not round any intermediate computations, and round your answer to the nearest cent. X Suppose that $2400 is initially invested in an account at a fixed interest rate, compounded continuously. Suppose also that, after six years, the amount of money in the account is $2817. Find the interest rate per year. Write your answer as a percentage. Do not round any intermediate computations, and round your percentage to the nearest hundredth. | % per year X 5 Suppose that the number of bacteria in a certain population increases according to a continuous exponential growth model. A sample of 2200 bacteria selecte from this population reached the size of 2376 bacteria in two hours. Find the hourly growth rate parameter. Note: This is a continuous exponential growth model. Write your answer as a percentage. Do not round any intermediate computations, and round your percentage to the nearest hundredth. X 5 Suppose that $4000 is placed in a savings account at an annual rate of 4.2%, compounded monthly. Assuming that no withdrawals are made, how long will it take for the account to grow to $5180? und any intermediate computations, and round your answer to the nearest hundredth. years X