A person places $7230 in an investment account earning an annual rate of 8.6%, compounded continuously. Using the formula V = P

Question

2 years ago

7

A person places $7230 in an investment account earning an annual rate of 8.6%, compounded continuously. Using the formula V = P

e r t V=Pe rt , where V is the value of the account in t years, P is the principal initially invested, e is the base of a natural logarithm, and r is the rate of interest, determine the amount of money, to the nearest cent, in the account after 3 years.

Mathematics

1 answer:

ANEK [815] · Answer 1 · 2022-03-30T08:40:51+03:00

ANEK [815]2 years ago

7 0

Answer:

9358.07

Step-by-step explanation: