SOLUTION: Find the balance if $12000 is invested at an annual rate of 8% for ten years, compounded continuously.

SOLUTION: Find the balance if $12000 is invested at an annual rate of 8% for ten years, compounded continuously.

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Question 861295: Find the balance if $12000 is invested at an annual rate of 8% for ten years, compounded continuously.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Find the balance if $12000 is invested at an annual rate of 8% for ten years, compounded continuously.
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A(t) = P*e^(rt)
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A(10) = 12000*e^(0.08*10) = $26,706.49
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Cheers,
Stan H.
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