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Alexxandr [17]
3 years ago
8

A person places $13000 in an investment account earning an annual rate of 7.4%,

Mathematics
1 answer:
egoroff_w [7]3 years ago
6 0

Answer: r=7.4%=0.074

Move decimal over two places

P=13000

Given as the principal

t=19

Given as the time

V=Pe^{rt}

V=13000e^{0.074( 19)}

Plug in

V=13000e^{1.406}

Multiply

V=53034.856≈53034.86

Use calculator and round to nearest cent

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