Connor invested $77,000 in an account paying an interest rate of 4.5% compounded continuously. Assuming no deposits or withdrawals are

Question

Connor invested $77,000 in an account paying an interest rate of 4.5% compounded
continuously. Assuming no deposits or withdrawals are made, how much money, to
the nearest hundred dollars, would be in the account after 12 years?

in progress 0
Sapo 3 years 2021-08-11T13:56:37+00:00 2 Answers 1 views 0

Answers ( )

  1. Ladonna
    0
    2021-08-11T13:57:38+00:00
    Reply

    Answer:

    this answer is actually correct. the answer is 132100.

    Step-by-step explanation:

    Compounded Continuously:

    A=Pe^{rt}

    A=Pe

    rt

    P=77000          r=0.045         t=12

    Given values

    A=77000e^{0.045(12)}

    A=77000e

    0.045(12)

    Plug in

    A=77000e^{0.54}

    A=77000e

    0.54

    Multiply

    A=132132.528388

    A=132132.528388

    Use calculator (with e button)

    A= aprroximatley  132100

    A≈132100

    Round to nearest hundred dollars

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  2. thienthanh
    0
    2021-08-11T13:58:09+00:00
    Reply

    Answer:

    There would be $118,580 but to the nearest hundred there would be $118,600.

    Step-by-step explanation:

    The answer is 118,600 because 4.5% of 77,000 is 3465 and 3465 multiplied by 12 is 41580 and 77,000 plus 41580 is 118,580 but rounded to the nearest hundred it would be 118,600.

    P.S Can I have brainliest?

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