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Fittoniya [83]
3 years ago
14

A person places $60100 in an investment account earning an annual rate of 5.3%, compounded continuously. Using the formula V = P

e r t V=Pe rt , where V is the value of the account in t years, P is the principal initially invested, e is the base of a natural logarithm, and r is the rate of interest, determine the amount of money, to the nearest cent, in the account after 19 years.
Mathematics
1 answer:
marin [14]3 years ago
7 0

Answer:

$164516

Step-by-step explanation:

Solution P = 60100 + = 19 r = 5.3/100

V= Pe

V= 60100 e 5.3x19/100

V= $164516

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