You deposit $800 in an account that pays 2.65% annual interest compounded continuously. What is the balance after 12 years? Use
A(t)=P e^rt because it is compounding continuously.
PLEASE HELPP
1 answer:
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:
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