Situation: You invest $4,000 in an account that pays an interest rate of 5.5%, compounded continuously. Calculate th

Question

Situation:
You invest $4,000 in an account that
pays an interest rate of 5.5%,
compounded continuously.
Calculate the balance of your account after 15
years. Round your answer to the nearest
hundredth.

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Adela 3 years 2021-08-06T16:02:17+00:00 1 Answers 6 views 0

Answers ( )

  1. thanhha
    0
    2021-08-06T16:03:21+00:00
    Reply

    Answer:

    { \bf{A=(P + \frac{r}{100} ) {}^{n} }} \\ { \tt{ = (4000 + \frac{5.5}{100} ) {}^{15} }} \\ \\ { \tt{ = \: 1.074 \times {10}^{54} \: dollars}}

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