SOLUTION: Find the amount of money accumulated if you invested $10,000 at 5.4% interest for 8 years compounded continuously. Round your answer to the nearest penny.

Question 866940: Find the amount of money accumulated if you invested $10,000 at 5.4% interest for 8 years compounded continuously.
Round your answer to the nearest penny.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Find the amount of money accumulated if you invested $10,000 at 5.4% interest for 8 years compounded continuously.
Round your answer to the nearest penny.
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A(t) = P*e^(rt)
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A(8) = 10,000*e^(0.054*8) = $15,403.35
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Cheers,
Stan H.
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