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Suppose that p is invested in a savings account in which​ interest, k, is compounded continuously at 4​% per year. the balance​ p(t) after time​ t, in​ years, is ​p(t)equalspe superscript kt. ​a) what is the exponential growth function in terms of p and 0.04​?

Respuesta :

CastleRook
a]
Given that the investment can be modeled by:
p(t)=e^(kt)
This is an exponential growth function.
where k=0.04
thus plugging in the value of k=0.04 in the function we obtain:
p(t)=e^(0.04t)