Hobbs Simmons
05/03/2024 · Junior High School
Jordan deposits 25000 into an account that earns \( 3 \% \) per year, compounded continuously. The value of their account after \( t \) years is given by \( P(t)=25000 e^{(0.03)} \) Calculate the rate at which the total amount is increasing in Jordan's account after 4 years? (Round your answer to the nearest cent.)
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The rate of increase after 4 years is approximately $845.62.
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