haydenjones201 haydenjones201

16-05-2023
Mathematics

Answered

A person places $8310 in an investment account earning an annual rate of 5.2%,
compounded continuously. Using the formula V =Pe^rt, where V is the value of the
account in t 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 16 years.

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