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A person places $1380 in an investment account earning an annual rate of 8.6%,
compounded continuously. Using the formula V = Pent, where Vis the value of the
account int 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 10 years.

Respuesta :

Answer:

3261.16

Step-by-step explanation:

r=8.6\%=0.086

r=8.6%=0.086

Move decimal over two places

P=1380

P=1380

Given as the pricipal

t=10

t=10

Given as the time

V=Pe^{rt}

V=Pe

rt

V=1380e^{0.086( 10)}

V=1380e

0.086(10)

Plug in

V=1380e^{0.86}

V=1380e

0.86

Multiply

V=3261.1618\approx 3261.16

V=3261.1618≈3261.16

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