SOLUTION: Suppose that $4000 is invested at an interest rate of 5.4% per year, compounded continuously. What is the balance after 2 years? A) $4456.11 B) $4432.00 C0 $4556.19 D) None

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Question 726636: Suppose that $4000 is invested at an interest rate of 5.4% per year, compounded continuously. What is the balance after 2 years?
A) $4456.11
B) $4432.00
C0 $4556.19
D) None
E) $4216.00
Answer by tanjo3(60) About Me  (Show Source):
You can put this solution on YOUR website!
A+=+Pe%5E%28rt%29
A+=+%284000%29e%5E%280.054%2A2%29
A+=+4456.19
Therefore, the answer is (C).