puts $700.00 into an account to use for school expenses. The account earns 4% interest, compounded continuously. How much will be in

Question

puts $700.00 into an account to use for school expenses. The account earns 4% interest,
compounded continuously. How much will be in the account after 7 years?

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Ngọc Khuê 2 weeks 2021-07-19T21:15:38+00:00 2 Answers 3 views 0

Answers ( )

    0
    2021-07-19T21:17:15+00:00

    Answer:

    • $926.19

    Step-by-step explanation:

    Use formula:

    • A = Pe^(rt)

    Given

    • P = $700
    • r = 4% = 0.04
    • t = 7 years

    Find the amount:

    • A = 700*e^(0.04*7) = 926.19
    0
    2021-07-19T21:17:16+00:00

    Answer:

    $926.19 is the answer.

    Step-by-step explanation:

    good luck

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