Suppose that $11,572 is invested at an interest rate of 6.2% 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.)
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