SOLUTION: Suppose that $4000 is invested at an interest rate of 5.5% per year, compounded continuously. what is the balance after 8 years?

SOLUTION: Suppose that $4000 is invested at an interest rate of 5.5% per year, compounded continuously. what is the balance after 8 years?

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Question 301588: Suppose that $4000 is invested at an interest rate of 5.5% per year, compounded continuously. what is the balance after 8 years?
Answer by nyc_function(2741) (Show Source): You can put this solution on YOUR website!
We use A = Pe^(rt).
A = 4000e^(0.055 * 8)
Can you solve for A now?
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