Mathematics, 26.04.2021 21:30 vcasela

A person places $37700 in an investment account earning an annual rate of 5%, 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 16 years.

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A person places $37700 in an investment account earning an annual rate of 5%, compounded continuousl...