SOLUTION: Suppose that $1,245.8 is invested at 7.5% compounded continuously. How much is in the account after 16.8 years? Round your answer to the nearest cent.

Question 1093120: Suppose that $1,245.8 is invested at 7.5% compounded continuously. How much is in the account after 16.8 years? Round your answer to the nearest cent.
Answer by greenestamps(13200) (Show Source): You can put this solution on YOUR website!

For continuous compounding, the formula for the amount A after t years at an interest rate r (remember to write it as a decimal!) with a beginning principal of P is

Plug in your given numbers and round as directed.

As a check of your calculation, I can tell you that I got a number between $4300 and $4400....
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