You invest $1,100 in an account that has an annual interest rate of 2.1%, compounded continuously. How much money will be in the

Question

Oksana_A [137]

3 years ago

14

You invest $1,100 in an account that has an annual interest rate of 2.1%, compounded continuously. How much money will be in the

account after 7 years? Round your answer to the nearest whole number.

Mathematics

1 answer:

uranmaximum [27] · Answer 1 · 2022-03-30T12:20:23+03:00

uranmaximum [27]3 years ago

6 0

$1100 x 1.021^7 = $1272 (whole number.)

the $1100 is the original amount of money put in the bank with the 1.021 being the interest rate. this was put to the power of 7 to represent the years the money will be in the account.