SOLUTION: A person places $8890 in an investment account earning an annual rate of 7.7%, compounded continuously. Using the formula V = Pe^{rt}V=Pe rt, where V is the value of the account in
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-> SOLUTION: A person places $8890 in an investment account earning an annual rate of 7.7%, compounded continuously. Using the formula V = Pe^{rt}V=Pe rt, where V is the value of the account in
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Question 1155108: A person places $8890 in an investment account earning an annual rate of 7.7%, compounded continuously. Using the formula V = Pe^{rt}V=Pe rt, where V is the value of the account in t years, P is the principal initially invested, e is the base of a natural logarithm, and r is the rate of interest, determine the amount of money, to the nearest cent, in the account after 3 years. Answer by josgarithmetic(39620) (Show Source):
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