We have been given that a person places $6340 in an investment account earning an annual rate of 8.4%, compounded continuously. We are asked to find amount of money in the account after 2 years.
We will use continuous compounding formula to solve our given problem as:
, where
A = Final amount after t years,
P = Principal initially invested,
e = base of a natural logarithm,
r = Rate of interest in decimal form.
Upon substituting our given values in above formula, we will get:
Upon rounding to nearest cent, we will get:
Therefore, an amount of $7499.82 will be in account after 2 years.
Answer:
8
x
−
3
Hope this helps, if it does please give brainliest
F(t)=1.4^t
<span>a)a=1, b=0.4 </span>
<span>b)a=1.4, b=0<<<< </span>
<span>c)a=1.4, b=t </span>
<span>d)a=1, b=1.4
Hope this helped!!</span>
All you do is divide -12/20 by 4/4 which is -3/5
