Carson invested $2,700 in an account paying an interest rate of 1.6% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest cent, would be in the account after 5 years?

Carson invested $2,700 in an account paying an interest rate of 1.6% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest cent, would be in the account after 5 years?

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section: Chapter Questions

Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...

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Carson invested $2,700 in an account paying an interest rate of 1.6% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest cent, would be in the account after 5 years?

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