document.write( "Question 265171: Matt places $1,200 in an investment account
\n" ); document.write( "earning an annual rate of 6.5%, compounded
\n" ); document.write( "continuously. Using the formula V = Pert, where V
\n" ); document.write( "is the value of the account in t years, P is the
\n" ); document.write( "principal initially invested, e is the base of a natural
\n" ); document.write( "logarithm, and r is the rate of interest, determine
\n" ); document.write( "the amount of money, to the nearest cent, that Matt
\n" ); document.write( "will have in the account after 10 years. \n" ); document.write( "

Algebra.Com's Answer #195018 by stanbon(75887) $\"\"$ $\"About$

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Matt places $1,200 in an investment account
\n" ); document.write( "earning an annual rate of 6.5%, compounded
\n" ); document.write( "continuously. Using the formula V = Pert, where V
\n" ); document.write( "is the value of the account in t years, P is the
\n" ); document.write( "principal initially invested, e is the base of a natural
\n" ); document.write( "logarithm, and r is the rate of interest, determine
\n" ); document.write( "the amount of money, to the nearest cent, that Matt
\n" ); document.write( "will have in the account after 10 years.
\n" ); document.write( "----------------
\n" ); document.write( "V(10) = 1200*e^(0.065*10)
\n" ); document.write( "V(10) = $2298.65
\n" ); document.write( "=======================
\n" ); document.write( "cheers,
\n" ); document.write( "Stan H. \n" ); document.write( "

\n" );