Mathematics, 20.11.2020 06:10 viktoria1198zz

A person places $7120 in an investment account earning an annual rate of 7.4%, compounded continuously. Using the formula V = Pe^{rt}V=Pe rt
, where V is the value of the account in t years, P is the principal initially invested, e is the base of a natural logarithm, and r is the rate of interest, determine the amount of money, to the nearest cent, in the account after 11 years.

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A person places $7120 in an investment account earning an annual rate of 7.4%, compounded continuous...