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.
Me to I was doing the work but just lost it I will try again
Step-by-step explanation:
Formula:
d×3.14=C
or
r×3.14×2=C
d=diameter
r=radius
Answer:
D
Step-by-step explanation:
I am taking the practice.
