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lyudmila [28]
3 years ago
10

Suppose you invest $2200 at an annual interest rate of 5.3% compounded continuously. How much will you have in the account after

7 years?
Mathematics
1 answer:
gulaghasi [49]3 years ago
8 0

Step-by-step explanation:

step 1. Let's call the amount of money A.

step 2. A = A¡e^(rt) (continuously compounding equation)

step 3. A = A¡e^(rt). A¡ = initial amount. r = rate, t = time.

step 4. A = 2200e^((.053)(7)

step 5. A = $3188.20

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