Question

Khloe invested $11,000 in an account paying an interest rate of 4.8% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest ten dollars, would be in the account after 17 years?

Answer 1

24,880

Explanation:

A= where P is the initial amount, r is the intrest rate as a decimal fraction, and t is the time in years. Here we have:

A= 11,000e(0.048x17) = 24,875.80

round and you get 24,880

i hope this helps