Apps and Models: Growth and Decay; Compound Interest (5-6)

Suppose that $10,000 is invested at an interest rate of 5.4% per year, compounded continuously. Find the exponential function that describes the amount in the account after time t, in years.

• $P\left(t\right)=10000e^{0.054t}$

• $P\left(t\right)=10000e^{5.4t}$

• $P\left(t\right)=10000\left(1+\frac{0.054}{365}\right)^{365t}$

• $P\left(t\right)=10000\left(1+\frac{5.4}{365}\right)^{365t}$

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CCSS.HSF.LE.A.2

Suppose that $10,000 is invested at an interest rate of 5.4% per year, compounded continuously. What is the balance after 2 years to the nearest cent?

Suppose that $10,000 is invested at an interest rate of 5.4% per year, compounded continuously. What is the balance after 10 years to the nearest cent?

Suppose that $10,000 is invested at an interest rate of 5.4% per year, compounded continuously. What is the doubling time to the nearest tenth?

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CCSS.HSF.LE.A.4

A mummy discovered in the pyramid Khufu in Egypt has lost 46% of its carbon-14. Determine its age to the nearest year. The half-life of carbon-14 is 5750 years.

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CCSS.HSF.LE.A.4