SOLUTION: Use the compund interest formulas Find the accumulated value of an investment of $8000 at 9% compounded continuously for 4 years. $11,466.64 $11,566.64 $10,880.00 $11,2

Algebra ->  Exponential-and-logarithmic-functions -> SOLUTION: Use the compund interest formulas Find the accumulated value of an investment of $8000 at 9% compounded continuously for 4 years. $11,466.64 $11,566.64 $10,880.00 $11,2      Log On


   

Question 156088: Use the compund interest formulas
Find the accumulated value of an investment of $8000 at 9% compounded continuously for 4 years.
$11,466.64
$11,566.64
$10,880.00
$11,292.65
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Use the compund interest formulas
Find the accumulated value of an investment of $8000 at 9% compounded continuously for 4 years.
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A(t) = Pe^(rt)
A(4) = 8000e^(0.08*4)
A(4) = 8000*1.377128
A(4) = $11017.02
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Cheers,
Stan H.