Question

Suppose that is invested in a savings account in which interest is compounded continuously at ​% per year. That​ is, the balance P grows at the rate given by the following equation.
​P(t)
​(a)
Find the function​ P(t) that satisfies the equation. Write it in terms of and .
​(b)
Suppose that ​$ is invested. What is the balance after ​years?
​(c)
When will an investment of ​$ double​ itself?

Answer 1

Answer:

Suppose that P0 is invested in a savings account in which interest is compounded continuously at 6.6% per year. That is, the balance P grows at the rate given by the following equation. dP/dt - = 0.066P(t) Find the function P(t) that satisfies the equation. Write it in terms of P0 and 0.066.