cibarra06 cibarra06

25-11-2020
Mathematics

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an initial amount of $55,000 is invested in an account with interest compounded continuously the interest rate is 10% find the value of the account after 14 years

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meowmeow223334 meowmeow223334

25-11-2020

A = P(1 + rt)
P = $55,000 r= 0.10 t= 14 years
A = 55,000(1+(0.10)(14) = 55,000(2.4)
A = $132,000 after 14 years

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