Question

Isaac invested $77,000 in an account paying an interest rate of 4.6% compounded

continuously. Assuming no deposits or withdrawals are made, how much money, to
the nearest cent, would be in the account after 12 years?

Answer 1

Answer:132,090.30

Explanation:

r = R/100

r = 4.6%/100

r = 0.046 per year,

A = P(1 + r/n)nt

A = 77,000.00(1 + 0.046/1)(1)(12)

A = $ 132,090.30

Answer 2

Answer:133727.67

Explanation:

133727.67