person places $72300 in an investment account earning an annual rate of 7.1%, compounded continuously. Using the formula V = Pet, where V is the value of the account in t years, P is the principal initially invested, e is the base of a natural logarithm, and r is the rate of interest, determine the amount of money, to the A nearest cent, in the account after 19 years. Answer: Submit Answer
person places $72300 in an investment account earning an annual rate of 7.1%, compounded continuously. Using the formula V = Pet, where V is the value of the account in t years, P is the principal initially invested, e is the base of a natural logarithm, and r is the rate of interest, determine the amount of money, to the A nearest cent, in the account after 19 years. Answer: Submit Answer
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 60SE: The formula for the amount A in an investmentaccount with a nominal interest rate r at any timet is...
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