A person places $7320 in an investment account earning an annual rate of 8.2%, compounded continuously. Using the formula V = Pert, where Vis 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 12 years.

The amount of money after 12 years is $19581.99 to the nearest cents

Step-by-step explanation:

The formula of the compound continuously interest is V = P , where

∵ A person places $7320 in an investment account

∴ P = 7320

∵ The account earning an annual rate of 8.2%, compounded continuously

∴ r = 8.2% ⇒ divide it by 100 to change it to decimal

∴ r = 8.2 ÷ 100 = 0.082

∵ The time is 12 years

∴ t = 12

→ Substitute these values in the formula above to find V

∵ V = 7320

∴ V = 19581.99121 dollars

→ Round it to the nearest cents ⇒ 2 d.p

∴ V = 19581.99 dollars

∴ The amount of money after 12 years is $19581.99 to the nearest cents.

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graphically?   well, you graph them both, the solutions is where they both intersect each other, since there are two solutions, meaning they will meet twice, or namely the linear will run into the quadratic curve twice, and where they meet, those x,y coordinates are the solutions to the system.

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step-by-step explanation: