Answered

IDNLearn.com provides a seamless experience for finding the answers you need. Receive prompt and accurate responses to your questions from our community of knowledgeable professionals ready to assist you at any time.

A person places $4080 in an investment account earning an annual rate of 5. 7%,

compounded continuously. Using the formula V = Pent, where Vis 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

nearest cent, in the account after 4 years.


Sagot :

Polyblockidn

Answer:

$5,124.83

Step-by-step explanation:

We have the formula: V = Pe^rt

Plug in the given information

P = Principal amount (4080)

r = rate (0.057)

t = years (4)

V = 4080e^(0.057)(4)

V = 4080e^0.228

V = 4080(1.2560853)

V = 5124.828024

We greatly appreciate every question and answer you provide. Keep engaging and finding the best solutions. This community is the perfect place to learn and grow together. Thank you for choosing IDNLearn.com. We’re committed to providing accurate answers, so visit us again soon.