stephany8552 stephany8552

02-01-2023
Mathematics

Answered

A person places $85800 in an investment account earning an annual rate of 8. 5%,

compounded continuously. Using the formula V = Pert, where V is the value of the

account int 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 9 years.

Answer :

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