Question

A

Answer 1

Answer:

B)  $19,865.03

Step-by-step explanation:

Continuous Compounding Formula

$\large \sf A=Pe^{rt}$

where:

• A = Final amount
• P = Principal amount
• r = annual interest rate (in decimal form)
• t = time (in years)

Given:

• P = $8,540
• r = 6.03% = 0.0603
• t = 14 years

Substituting given values into the formula and solving for A:

$\large \implies \sf 8540e^{0.0603 \times 14}=19865.03215$