Answered

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Matthew invested $5,800 in an account paying an interest rate of 4.9% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest cent , would be in the account after 7 years?

Sagot :

acoo0234

Answer:

$8173

Step-by-step explanation:

For this problem you will use the formula P(t)=Pe^r(t). P=5800 r=4.9%=0.049

t=7 years. With using this formula you should get your answer. I hope this helps!

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