Geometry 2. Congruent triangles
1 answer:
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Answer:
$17,506.73
Step-by-step explanation:
<u>Continuous Compounding Formula</u>
where:
- A = Final amount
- P = Principal amount
- e = Euler's number (constant)
- r = annual interest rate (in decimal form)
- t = time (in years)
Given:
- P = $10,000
- r = 7% = 0.07
- t = 8 years
Substitute the given values into the formula and solve for A:
Therefore, the value of the account after 8 years is $17,506.73 to the nearest cent.