An initial amount of $2200 is invested in an account at an interest rate of 5.5% per year, compounded continuously. Assuming that no withdrawals are made, find the amount in the account after four years. Do not round any intermediate computations, and round your answer to the nearest cent. S ?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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An initial amount of $2200 is invested in an account at an interest rate of 5.5% per year, compounded continuously. Assuming
that no withdrawals are made, find the amount in the account after four years.
Do not round any intermediate computations, and round your answer to the nearest cent.
S
?
Transcribed Image Text:An initial amount of $2200 is invested in an account at an interest rate of 5.5% per year, compounded continuously. Assuming that no withdrawals are made, find the amount in the account after four years. Do not round any intermediate computations, and round your answer to the nearest cent. S ?
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