SOLUTION: the amount A in an account after t years of an initial principle P invested at an annual rate r compounded continously is given by A=Pe^rt where r is expressed as a decimal. What i

Algebra ->  Exponential-and-logarithmic-functions -> SOLUTION: the amount A in an account after t years of an initial principle P invested at an annual rate r compounded continously is given by A=Pe^rt where r is expressed as a decimal. What i      Log On


   



Question 62613: the amount A in an account after t years of an initial principle P invested at an annual rate r compounded continously is given by A=Pe^rt where r is expressed as a decimal. What is the amount in the account if $500 is invested for 10 years at the annual rate of 5% compounded continously?
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
A+=+P%2Ae%5E%28rt%29
P = 500
t = 10
r = .05
A+=+500%2Ae%5E%28.05%2A10%29
A+=+500%2Ae%5E.5
A+=+500%2A1.6487
A+=+824.36
$824.36 will be the amount in the account after 10 years