bellambernal2003
Answered

At Westonci.ca, we connect you with experts who provide detailed answers to your most pressing questions. Start exploring now! Explore a wealth of knowledge from professionals across different disciplines on our comprehensive platform. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals.

Find the amount of money
accumulated after investing a
principle P for years t at interest
rate r, compounded continuously.
t = 6
P = $1,500 r = 7%

Sagot :

[tex]~~~~~~ \textit{Continuously Compounding Interest Earned Amount} \\\\ A=Pe^{rt}\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill & \$1500\\ r=rate\to 7\%\to \frac{7}{100}\dotfill &0.07\\ t=years\dotfill &6 \end{cases} \\\\\\ A=1500e^{0.07\cdot 6}\implies A=1500e^{0.42}\implies A\approx 2282.94[/tex]

Thank you for choosing our service. We're dedicated to providing the best answers for all your questions. Visit us again. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Thank you for visiting Westonci.ca. Stay informed by coming back for more detailed answers.