# Algebra ASAP

Suppose that \$17,000 is invested in a savings account paying 5.1% interest per year.
(a) Write the formula for the amount A in the account after t years if interest is compounded monthly.
A(t) =

(b) Find the amount in the account after 3 years if interest is compounded daily. (Round your answer to two decimal places.)
A(3) =

(c) How long will it take for the amount in the account to grow to \$20,000 if interest is compounded continuously? (Round your answer to two decimal places.)
yr

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1. A(t) = 17000(1.051)^t

b) i = .051/365
A(t) = 17000(1 + .051/365)^(1095) = \$19810.31

continuous ...
20000 = 17000 e^(.051t)

solve for t
(I got 3.1866)

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2. A should be to the ^12t power because it's compounded monthly

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