Vaughn Dawson
01/23/2024 · High School
Suppose that \( \$ 65,000 \) is invested at \( 4 \frac{1}{2} \% \) interest, compounded quarterly. a) Find the function for the amount to which the investment grows after \( t \) years. b) Find the amount of money in the account at \( t=0,2,7 \), and 10 years. a) The function for the amount to which the investment grows after \( t \) years is \( A(t)=\square \). (Simplify your answer. Type an expression using t as the variable.)
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a) The function for the amount to which the investment grows after \( t \) years is \( A(t) = 65000 \left(1.01125\right)^{4t} \).
b) The amounts at \( t = 0, 2, 7, \) and 10 years are \$65,000, \$71,079.50, \$92,440, and \$109,445 respectively.
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