Find the amount in a continuously compounded account for the following condition. Principal, $3000; Annual interest rate, 5.1%; time, 4 years The balance after 4 years is $

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 69SGR
icon
Related questions
Question

Find the amount in a continuously compounded account for the following condition.

Principal, $3000; Annual interest rate, 5.1%; time, 4 years.

 

The balance after 4 years is

Find the amount in a continuously compounded account for the following condition.
Principal, $3000; Annual interest rate, 5.1%, time, 4 years
The balance after 4 years is $
(Round the final answer to the nearest cent as needed. Round all intermediate values to five decimal places as neec
Transcribed Image Text:Find the amount in a continuously compounded account for the following condition. Principal, $3000; Annual interest rate, 5.1%, time, 4 years The balance after 4 years is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to five decimal places as neec
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer