SOLUTION: Maria deposited $1200 in an account that paid 6 1/2 percent interest compounded continuously. How much money did she have in 8 years? (A, = Pe^rt)

SOLUTION: Maria deposited $1200 in an account that paid 6 1/2 percent interest compounded continuously. How much money did she have in 8 years? (A, = Pe^rt)

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Question 67865This question is from textbook An Incremental Development
: Maria deposited $1200 in an account that paid 6 1/2 percent interest compounded continuously. How much money did she have in 8 years? (A, = Pe^rt) This question is from textbook An Incremental Development

Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Maria deposited $1200 in an account that paid 6 1/2 percent interest compounded continuously. How much money did she have in 8 years? (A, = Pe^rt)
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A=1200e^(0.065*8)
A=1200(1.682...*
A=$2018.43
Cheers,
Stan H.
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