SOLUTION: How much money will there be in an account at the end of 8 years if $5,000 is deposited at a 5.5% annual rate that is compounded continuously? (Assume no withdrawals made.)
The
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Question 421268: How much money will there be in an account at the end of 8 years if $5,000 is deposited at a 5.5% annual rate that is compounded continuously? (Assume no withdrawals made.)
The amount after 8 years will be___________.
(Rounded to the nearest cent.)
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A=5000(2.7183)^0.055*8
A=5000(2.7183)^0.44
A=5000*1.55271
A=7763.55
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