Mathematics, 12.05.2021 17:50 charleetrill8304
The equation used to determine the amount A in an account after t years of continuous compounding is A = Pe^rt, where P represents the principal
(or original) amount in the account and rrepresents the annual interest rate as a decimal. Six years ago, Dimitri invested $5,000 in an account in which
the interest is compounded continuously at an annual interest rate of 5.2%
a) Determine the current amount of money in the account.
b) How many years will it take Dimitri’s account to reach $7,500 (Round your answer to the nearest thousandth)
Answers: 1
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The equation used to determine the amount A in an account after t years of continuous compounding is...
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