isabellabotello8 isabellabotello8

19-02-2021
Mathematics

contestada

You invest $125,000 in an account that earns 4.75% annual
interest, compounded continuously.
a. What is the value of the account after 15 years?

Respuesta :

greenforestaz greenforestaz

20-02-2021

Step-by-step explanation:

step 1. let's call the amount of money A, the initial amount A¡, the rate r, and the time t.

step 2. A = A¡e^(rt) (continuously compounding equation)

step 3. A = 125000e^((.0475)(15))

step 4. A = $254,885.32

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