Question

Use the equation A=Pe^rt to answer each question. Show all work. First question

Answer 1

$7209.78

Step-by-step explanation:

To find the amount in the account after 6 years, we will use the following equation

`A=Pe^(rt)`

Where P is the initial amount, r is the interest rate and t is the time in years.

So, replacing P = $5000, r = 6.1% = 0.061, and t = 6 years, we get

`\begin{gathered} A=5000e^(0.061t) \\ A=5000e^(0.061(6)) \\ A=5000e^(0.366) \\ A=5000(1.44) \\ A=7209.78 \end{gathered}`

Therefore, the answer is $7209.78