Mathematics, 31.12.2021 01:20 mp515

A person places $3230 in an investment account earning an annual rate of 5.8%, compounded continuously. Using the formula V = P * e ^ (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 $3230 in an investment account earning an annual rate of 5.8%, compounded continuous...