SOLUTION: I need your help with this word problem! How much money will there be in an account at the end of 9 years if $12000 is deposited at a 6.5% annual rate that is compounded continu

SOLUTION: I need your help with this word problem! How much money will there be in an account at the end of 9 years if $12000 is deposited at a 6.5% annual rate that is compounded continu

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Question 421037: I need your help with this word problem!
How much money will there be in an account at the end of 9 years if $12000 is deposited at a 6.5% annual rate that is compounded continuously? (Assume no withdraws are made.)
The amount after 9 years will be $________.
(Round to the nearest cent.)
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A=12000(2.7183)^0.065*9
A=12000(2.7183)^0.585
A=12000*1.794998
A=$21,539.98
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