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You invest $3,700 in an account that pays an interest rate of 8.25%, compounded continuously. Calculate the balance of your account after 19 years. Round your answer to the nearest hundredth.
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You invest $3,700 in an account that pays an interest rate of 8.25%, compounded continuously.

Calculate the balance of your account after 19 years. Round your answer to the nearest hundredth.

User Stefan Feuerhahn
by
8.0k points

1 Answer

4 votes

Answer:

3700( 1 + 8.25/100 )^19

= 16685

User Aleksandar Savkov
by
8.4k points
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