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

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
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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Mar 17, 9:58:2O PM
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A person places $72300 in an investment account earning an annual rate of 7.1%,
compounded continuously. Using the formula V = Pe"t, 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, andr is the rate of interest, determine the amount of money, to the
nearest cent, in the account after 19 years.
Submit Answer
Answer:
attempt 1 out of 2
53°F Cloud
O Type here to search
hp
&
2#3
#3
%24
6
E
R
Y
S.
D
G
K
N M
C3
Transcribed Image Text:Mar 17, 9:58:2O PM Watch help video A person places $72300 in an investment account earning an annual rate of 7.1%, compounded continuously. Using the formula V = Pe"t, 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, andr is the rate of interest, determine the amount of money, to the nearest cent, in the account after 19 years. Submit Answer Answer: attempt 1 out of 2 53°F Cloud O Type here to search hp & 2#3 #3 %24 6 E R Y S. D G K N M C3
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