Question 1179236
.
<pre>

Future value formula in this case is


    FV = {{{3000*e^(0.07*t)}}},  t in years, e = 2.71828  (approximately.


Substituting


    FV = {{{3000*2.71828^(0.07*19)}}} = 11,343.12 dollars.    <U>ANSWER</U>
</pre>

Solved.


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To see many other similar solved problems on continuously compounded accounts, &nbsp;see the lesson

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/logarithm/Problems-on-continuously-compound-accounts.lesson>Problems on continuously compounded accounts</A> 

in this site.


After reading this lesson, &nbsp;you will tackle such problems on your own without asking for help from outside.



Also, &nbsp;you have this free of charge online textbook in ALGEBRA-I in this site

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson>ALGEBRA-I - YOUR ONLINE TEXTBOOK</A>.


The referred lesson is the part of this online textbook under the topic "<U>Logarithms</U>".



Save the link to this online textbook together with its description


Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson


to your archive and use it when it is needed.