Final answer:
The final dollar amount after 22 years with continuous compound interest is approximately $69,481.92.
Step-by-step explanation:
To find the final dollar amount after 22 years with continuous compound interest, we can use the formula: A = P * e^(rt),
where A is the final amount, P is the initial amount, e is the base of the natural logarithm (approximately 2.71828), r is the annual interest rate, and t is the time in years.
Plugging in the given values, A = $27,430 * e^(0.0423 * 22).
Using a calculator or an online tool, we can find that e^(0.0423 * 22) is approximately 2.7448192.
Multiplying this by $27,430, we find that the final amount is approximately $69,481.92.