QuestionLet $A(t)=4000 e^{0.06 t}$ be the balance in a savings account after $t$ years. Complete parts (a) through (f) below. (a) How much money was originally deposited?
There was \$ 4000 originally deposited. (Type an integer or a decimal.) (b) What is the interest rate?
The interest rate is $\square \%$ . (Type an integer or a decimal.)

Studdy Solution
Convert the interest rate from a decimal to a percentage:
$0.06 = 6\%$
Thus, the interest rate is $6\%$ .
The solutions are: (a) The original deposit was \$4000. (b) The interest rate is \( 6\% \).

View Full Solution - Free

Was this helpful?

Get Studdy

Scan QR code with your device to get Studdy on iOS or Android

QR code

Studdy solves anything!

Download the app

Start learning now

Download Studdy AI Tutor now. Learn with ease and get all help you need to be successful at school.

Parents Influencer program Contact Policy Terms