If $22,000 is deposited in an account paying 3.85% interest compounded continuously, use the continuously compounded interest formula , a=pe^rt, to find the balance in the account after 11 years.
a. $1,519,356.93
b. $33,600.60
c. $33,416.25
d. $25,416.25

B

Step-by-step explanation:

In the equation for interest compounding continuously, the A stands for the amount after the compounding is done, the P is the initial amount invested, the e is Euler's number, the r is the rate in decimal form, and the t is the time in years that the money is invested.  Setting up our equation with the given values looks like this:

Multiply the rate with the time to simplify a bit to

Raise e to the power of .4235 on your calculator (hit 2nd then the ln button to get your e) and get

Multiply out to get $33600.55, but rounding up gives you B as your answer.

answer:

c 60% on edg

the answer is b.

step-by-step explanation: