Question

The amount of money in an account can be determined by the formula A re where is the

Answer 1

Answer:

$\ 10272.17$

Step-by-step explanation:

Since it is compounded continuously, we will use:

$A=A_0 \cdot e^{k t}$

$A_0$ is the amount invested.

$k$ is the rate.

$t$ is the number of years you let the money sit.

$A$ is the future amount after the $t$ years that has been accumulated.

(Note:

I'm going to write $r=4%$ as a decimal. $r=\frac{4}{100}=0.04$.)

$A=5000 \cdot e^{0.04 \cdot 18}$

$A=5000 \cdot e^{0.72}$

$A=5000 \cdot 2.0544332$ (approximated)

$A=10272.16605$ (approximated)

To the nearest cent this is $\ 10272.17$.

Answer 2

Answer: $10272.17

Step-by-step explanation: Please see attachment for explanation