SOLUTION: Find the balance (to the nearest cent) if 24, 000 is invested at an annual interest rate of 6.8% for 10 years, compounded continuously.

SOLUTION: Find the balance (to the nearest cent) if 24, 000 is invested at an annual interest rate of 6.8% for 10 years, compounded continuously.

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Question 47512: Find the balance (to the nearest cent) if 24, 000 is invested at an annual interest rate of 6.8% for 10 years, compounded continuously.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Find the balance (to the nearest cent) if 24, 000 is invested at an annual interest rate of 6.8% for 10 years, compounded continuously.
A=Pe^(rt)
A=24000e^(0.068*10)
A=24000e^0.68)
A=24000*1.97387773...
A=$47,373.07
Cheers,
Stan H.
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