Question 1107209: Hailey invested $460 in an account paying an interest rate of 4.5% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 8 years?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Hailey invested $460 in an account paying an interest rate of 4.5% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 8 years?
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A(t) = P*e^(r*t)
A(8) = 460*e^(0.045*8) = $659.33
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Cheers,
Stan H.
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