Question

Which expression represents the following description? An investment of $10,000 compounded continuously at an annual interest rate of 5%. The investment is kept in the account for 20 years. ( Round answer to the nearest hundredth).
$10,500.20
$20,000.00
$25,204.74
$27,182.82

Answer 1

Answer:

The answer is D!

Step-by-step explanation:

using the continuously compounded interest formula A=Pe^rt, I found that 10000*2.718282^(1)=27,182.82 $ in 20 yrs