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A person places $6440 in an investment account earning an annual rate of 6.8%, compounded continuously. Using the formula V = P e r t V=Pe rt , where V is the value of the account in t years, P is the principal initially invested, e is the base of a natural logarithm, and r is the rate of interest, determine the amount of money, to the nearest cent, in the account after 8 years.

User Eduard Uta
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2 Answers

5 votes

Answer:

V=11095.3771≈11095.38

Explanation:

User Ryan Rich
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0 votes

Answer:

In 8 years, you will have $11,094.81

Explanation:

A person places $6440 in an investment account earning an annual rate of 6.8%, compounded-example-1
User Tristan Cunningham
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