6. Exponential & Logarithmic Functions
Introduction to Exponential Functions
Problem 55a
Textbook Question
Textbook QuestionUse the compound interest formulas A = P (1+ r/n)^nt and A =Pe^rt to solve exercises 53-56. Round answers to the nearest cent. Suppose that you have $12,000 to invest. Which investment yields the greater return over 3 years: 0.96% compounded monthly or 0.95% compounded continuously?
![](/channels/images/assetPage/verifiedSolution.png)
This video solution was recommended by our tutors as helpful for the problem above
Video duration:
3mPlay a video:
173
views
Was this helpful?
Related Videos
Related Practice
Showing 1 of 6 videos