Suppose an investment of $29,000 is invested at an annual rate of 5.5%, compounded continuously. What is the value of the account after 10 years? Round your answer to the nearest cent/penny. Answer = dollars. (Round to two decimal places)

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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Suppose an investment of $29,000 is invested at an annual rate of 5.5%, compounded continuously. What is
the value of the account after 10 years? Round your answer to the nearest cent/penny.
Answer
dollars. (Round to two decimal places)
%3D
Transcribed Image Text:Suppose an investment of $29,000 is invested at an annual rate of 5.5%, compounded continuously. What is the value of the account after 10 years? Round your answer to the nearest cent/penny. Answer dollars. (Round to two decimal places) %3D
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