A person places $8890 in an investment account earning an annual rate of 7.7% compounded continuously using the formula v=pert w

Question

3 years ago

9

A person places $8890 in an investment account earning an annual rate of 7.7% compounded continuously using the formula v=pert w

here 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 be nearest cent in the account after 3 years

Mathematics

1 answer:

34kurt · Answer 1 · 2022-03-15T08:34:29+03:00

34kurt3 years ago

5 0

Answer:

11200.15

Step-by-step explanation:

P=8890

t=3

V=Pe^rt

V=8890e^0.077(3)

V=8890e^0.231

V=11200.15