bellambernal2003
bellambernal2003 bellambernal2003
  • 06-06-2022
  • Mathematics
contestada

Find the amount of money
accumulated after investing a
principle P for years t at interest
rate r, compounded continuously.
t = 6
P = $1,500 r = 7%

Respuesta :

jdoe0001 jdoe0001
  • 06-06-2022

[tex]~~~~~~ \textit{Continuously Compounding Interest Earned Amount} \\\\ A=Pe^{rt}\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill & \$1500\\ r=rate\to 7\%\to \frac{7}{100}\dotfill &0.07\\ t=years\dotfill &6 \end{cases} \\\\\\ A=1500e^{0.07\cdot 6}\implies A=1500e^{0.42}\implies A\approx 2282.94[/tex]

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