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.)
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.
Remove parentheses by multiplying factors. use exponent rules to remove parentheses in terms with exponents. combine like terms by adding coefficients. combine the constants.