A person places $81200 in an investment account earning an annual rate of 3. 6%, compounded continuously. Using the formula V = Pe^{rt}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 13 years

Question

29-03-2022
Mathematics

contestada

A person places $81200 in an investment account earning an annual rate of 3. 6%, compounded continuously. Using the formula V = Pe^{rt}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 13 years

Respuesta :

Otras preguntas

2. Joe's heart beats 70 beats per minute. a. How many times will his heart beat in 20 years? Ignore leap years. Show your work. b. If Joe's heart beats 1,200,70

Recall that m(t) = (1/2)^t/h for radioactive decay, where h is the half-life. Suppose that a 500g sample of phosphorus-32 decays to 356g over 7 days.

what happens when animals become a part of an urban ecosystem

One of the first groups of mound builders was the______culture

A searchlight rotates through one complete revolution every 52 seconds how long does it take to rotate 90 degrees?

Which of the following group won the right to vote last? A felons B women C 18-21 years old D southern blacks

If a person traveled from Sacramento to Los Angeles by car, their distance would be 384.9 miles. What would their displacement be? _____________________ If th

How do these characteristics reflect and support patagonia's strategy

How do you write 6×1+6×(1/10)+3×(1/100)+7×(1/1000) in standard form?

jdoe0001 jdoe0001 · Answer 1 · 2022-03-29T01:44:22+02:00

jdoe0001 jdoe0001

29-03-2022

[tex]~~~~~~ \textit{Continuously Compounding Interest Earned Amount} \\\\ A=Pe^{rt}\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill & \$81200\\ r=rate\to 3.6\%\to \frac{3.6}{100}\dotfill &0.036\\ t=years\dotfill &13 \end{cases} \\\\\\ A=81200e^{0.036\cdot 13}\implies A=81200e^{0.468}\implies A\approx 129659.95[/tex]

Answer Link