Answered

Westonci.ca is your go-to source for answers, with a community ready to provide accurate and timely information. Join our platform to connect with experts ready to provide accurate answers to your questions in various fields. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.

Suppose 2,800 is deposited into an account at a 2.5% interest rate, compound continuously. If there are no other deposits or withdrawals, find the account balance after 25 years.

Sagot :

Answer:

the account balance after 25 years is 5,231

Step-by-step explanation:

The computation of the account balance after 25 years is shown below:

Amount = Principal × e^{rate, time period}

= 2,800 × e^{2.5%,25}

= 5,231

hence, the account balance after 25 years is 5,231

Thank you for visiting our platform. We hope you found the answers you were looking for. Come back anytime you need more information. We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Get the answers you need at Westonci.ca. Stay informed with our latest expert advice.