Suppose that $10,359 is invested at an interest rate of 5.3%

Last updated: 8/13/2022

Suppose that $10,359 is invested at an interest rate of 5.3% per year, compounded continuously. a) Find the exponential function that describes the amount in the account after time t, in years. b) What is the balance after 1 year? 2 years? 5 years? 10 years? c) What is the doubling time? a) The exponential growth function is P(t)= (Type exponential notation with positive exponents. Do not simplify. Use integers or decimals for any numbers in the equation.)