14-05-2023
Mathematics

Answered

The formula for continuously compounded interest is given by
, where
is the account balance,
is the principal,
is the annual interest rate (expressed as a decimal), and
is the time in years.

If $5000 is deposited into an account earning an annual interest rate of 2.5%, compounded continuously, then what is the account balance after 12 years?

Round your answer to the nearest dollar and do not include the $ symbol in your answer.

Answer :

Other Questions

Question 6 < > Suppose you want to have $300,000.00 for retirement in 35 years. You plan to make regular quarterly deposits into an account earning 8% int

Follow the guided instructions below to rotate the figure 270° counter-clockwise about the origin. Draw a circle centered at the center of rotation, such that o

Follow the guided instructions below to rotate the figure 270° counter-clockwise about the origin. Click and drag to draw a line through the yellow center and t

1.2 Mr Mohalati has Mr Prepaid account with one of the banks Africa. He uses the account to pay water bills. TABLE 2 shows deposit fees applicable on his accoun

Task Card #9 Q U Solve for x | (4x-10)° K Angle Relationship? What is the m

6 K 22 8 Find volume

Drag a figure into each blank space so that the two figures in the row match the description. 12 27 D Not Similar but Corresponding Angles Have Equal Measures N

PLEASE HELP-TIMED-40pts!! Answer each question individually ___________________________ 2. The list below shows the number of computer games a store sold each

PLEASE HELP-TIMED-30pts!! Answer each question individually ___________________________ 1. The list below shows the ages of the first 20 customers at a new comp

No PLEASE HELP-TIMED-30pts!! Answer each question individually ___________________________ 1. The list below shows the ages of the first 20 customers at a new c