If you invest, $8950 at the annual rate of 6.75% compounded continuously, how much money will be in the account at the end of 15.75 years?

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
Section4.2: The Natural Exponential Function
Problem 2E
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The formula for interest compounded continuously is A=Pert  where P is the principal, i.e. the amount invested, r is the annual rate expressed as a decimal, and A is the amount at the end of t years.  Use this information to do the next problem.

20.  If you invest, $8950 at the annual rate of 6.75% compounded continuously, how much money will be in the account at the end of 15.75 years?           

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