Find the function that gives the value of the investment

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Reference no: EM131798622

Question: Investing When the interest on an investment is compounded continuously, the investment grows at a rate that is proportional to the amount in the account, so that if the amount present is P, then

dP/dt = kP

where P is in dollars, t is in years, and k is a constant. If $100,000 is invested (when t = 0) and the amount in the account after 15 years is $211,700, find the function that gives the value of the investment as a function of t. What is the interest rate on this investment?

Reference no: EM131798622

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