document.write( "Question 1093371: If $5,000 is invested at 4% annual interest, compounded continuously, the value of the investment after t Years is V(t)=5000e^0.4t. What is the value after t=15 years? \n" ); document.write( "
Algebra.Com's Answer #708000 by greenestamps(13203)![]() ![]() You can put this solution on YOUR website! You will need a scientific calculator or some similar tool to do the calculation. Just plug the given value of t in the expression and evaluate. \n" ); document.write( "And, by the way, you haven't shown the formula correctly. The exponent should be 0.04t, not 0.4t. The 0.4t exponentn(corresponding to an interest rate of 40%) gives an unreasonable answer of over $2 million. The correct 0.04t exponent gives a reasonable answer of a little over $9000. \n" ); document.write( " |