Connor borrows $8,000 at a rate of 19% interest per year. what is the amount due at the end of 7 years if the interest is compounded continuously? $14,576.95 $29,215.37 $30,248.35 $43,791.58 which one is it and how did you get it?

Step-by-step explanation:

we know that

The formula to calculate continuously compounded interest is equal to

where  

A is the Final Amount due  

P is the amount of money borrowed

r is the rate of interest in decimal  

t is Number of Time Periods  

e is the mathematical constant number

we have  

substitute in the formula above  

this answer is !