Amelia invested $1,700 in an account paying an interest rate of 1.6% compounded continuously. assuming no deposits or withdrawals are made, how much money, to the nearest ten dollars, would be in the account after 11 years?

Total amount in account after 11 years is $ 2027.14

Solution:

Given that Amelia invested $1,700 in an account paying an interest rate of 1.6% compounded continuously

To find: Total amount in the account after 11 years

The total amount formula for compounded continuously is given as:

Where "p" is the principal

"r" is the rate of interest

"t" is the number of years

Here in this problem, p = 1700

t = 11 years

Substituting the values in formula we get,

Thus total amount in account after 11 years is $ 2027.14

5104.38 inches

step-by-step explanation: