## Precalculus (6th Edition) Blitzer

a. $5,027,378,918$ dollars b. $5,231,970,592$ dollars.
a. The total number of years is $2010-1626=384$. The general formula for the investment is $A=P(1+\frac{r}{n})^{nt}$ with $P=24, r=0.05, n=12, t=384$ For compounding monthly, we have $A=24(1+\frac{0.05}{12})^{12(384)}\approx5,027,378,918$ dollars b. For compounding continuously, the general formula for the investment is $A=Pe^{rt}$, with $P=24, r=0.05, t=384$. Thus, we have $A=24e^{0.05(384)}\approx5,231,970,592$ dollars.