Respuesta :

semsee45

Answer:

$3,272

Step-by-step explanation:

Continuous Compounding Formula

[tex]\large \text{$ \sf A=Pe^{rt} $}[/tex]

where:

  • A = Final amount
  • P = Principal amount
  • e = Euler's number (constant)
  • r = annual interest rate (in decimal form)
  • t = time (in years)

Given:

  • P = $2,600
  • r = 2.3% = 0.023
  • t = 10 years

Substitute the given values into the formula and solve for A:

[tex]\sf \implies A=2600e^{(0.023 \times 10)}[/tex]

[tex]\sf \implies A=2600e^{0.23}[/tex]

[tex]\implies \sf A=3272.360026...[/tex]

Therefore, the value of the account after 10 years is $3,272 to the nearest dollar.

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