dumpsterfire2019
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You invest $4,100 in an account that pays an interest rate of 8.5%, compounded continuously. Calculate the balance of your account after 17 years. Round your answer to the nearest hundredth.

Respuesta :

TheStranger

Answer:

$16409.28

Step-by-step explanation:

Principal amount = $4100

Interest rate = 8.5% annually (compounded)

Number of years = 17

Amount at the ned of 17 years

= 4100(1 + 8.5/100)¹⁷

= 4100 (1.085)¹⁷

= $16409.28