An initial amount of $2200 is invested in an account at an interest rate of 7% per year, compounded continuously. Assuming that no withdrawals are made, find the amount in the account after five years. Do not round any intermediate computations, and round your answer to the nearest cent.
An initial amount of $2200 is invested in an account at an interest rate of 7% per year, compounded continuously. Assuming that no withdrawals are made, find the amount in the account after five years. Do not round any intermediate computations, and round your answer to the nearest cent.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 67SGR
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