You deposit $800 in an account that pays 2.65% annual interest compounded continuously. What is the balance after 12 years? Use

Question

3 years ago

7

A(t)=P e^rt because it is compounding continuously.
PLEASE HELPP

1 answer:

balu736 [363] · Answer 1 · 2022-11-17T01:45:55+03:00

Answer:Let P = initial investment

r = annual interest rate (decimal form)

t = number of years

A(t) = amount after t years

Then, A(t) = Pert

A(12.5) = 800e(0.0265)(12.5)

= 800e0.33125

= $1114.17

Step-by-step explanation: