The equation for compound interest is A = P · e^rt where P is the initial amount invested, r is

Name: The equation for compound interest is A = P · e^rt where P is the initial amount invested, r is the interest rate as a decimal, and t is the number of years. Determine the value of the account if the initial investment is 8,000 compounded continuously at a rate of 6% after 10 years. a) $8480.00 b) $14,326.78 c) $14,576.95 d) $16,097.57
Uploaded: 2023-08-09T23:56:34-08:00
Duration: 1 min 40 s
Channel: Supreeta N
Description: The equation for compound interest is A = P · e^rt where P is the initial amount invested, r is the interest rate as a decimal, and t is the number of years. Determine the value of the account if the initial investment is 8,000 compounded continuously at a rate of 6% after 10 years. a) $8480.00 b) $14,326.78 c) $14,576.95 d) $16,097.57

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Dayna Kitsuwa · Accepted Answer

1. We are given the initial investment (P) as $8,000.

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