Some banks now use continuous compounding of an amount invested. In this case, the equation that models the value of an initial

Question

2 years ago

9

Some banks now use continuous compounding of an amount invested. In this case, the equation that models the value of an initial

investment of P dollars in t years at an annual
interest rate of r is given by A = Pelt. Using this equation, find the value in 5 years of an investment of $2000 that earns 7% annual interest. (Round your answer to the nearest cent.)

Mathematics

1 answer:

Komok [63] · Answer 1 · 2023-02-24T02:27:25+03:00

Komok [63]2 years ago

4 0

Answer:

In this case, the equation that models the value of an initial investment of P dollars in t years at an annual interest rate of r is given by A = Pert.

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