SOLUTION: if $8000 is invested at a rate of 5% compounded continuously,how would you find the balance in the account after 7 years bt using the formula A=Pe^rt.

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Question 89699: if $8000 is invested at a rate of 5% compounded continuously,how would you find the balance in the account after 7 years bt using the formula A=Pe^rt.
Found 2 solutions by funmath, stephenpsp:
Answer by funmath(2933) About Me  (Show Source):
You can put this solution on YOUR website!
if $8000 is invested at a rate of 5% compounded continuously,how would you find the balance in the account after 7 years bt using the formula A=Pe^rt.
P=8000
r=5/100=.05
t=7
A=8000e%5E%28%28.05%29%287%29%29
A=8000e%5E%28.35%29
Put it in the calculator and you get....
highlight%28A=11352.54%29
Happy Calculating!!!!

Answer by stephenpsp(1) About Me  (Show Source):
You can put this solution on YOUR website!
if $8000 is invested at a rate of 5% compounded continuously,how would you find the balance in the account after 7 years bt using the formula A=Pe^rt.
P=8000
r=5/100=.05
t=7
A=8000e^((.05)(7))
A=8000e^(.35)
Put it in the calculator and you get....
highlight(A=11352.54)