A person places $262 in an investment account earning an annual rate of 3.7%,

compounded continuously. Using the formula V = Pert, where Vis 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 5 years.

$315.24

Step-by-step explanation:

Principal, P =$262

Rate, r= 3.7% =0.037

Time, t= 5 Years

The Value of the Investment which is compounded continuously is gotten using the formula:

The value of the investment after 5 years is $315.24 to the nearest cent.

step-by-step explanation: given equation a = h(b 1+b 2)

also we are given values of a, h and b 1 as :

a = 16, h = 4, and b 1 = 3.

in order to solve it for b 2, we need to plug the given values of   a, h and b 1 .

therefore, plugging values of   a, h and b 1   in given equation, we get

16 = 4( 3 + b 2)

first dividing both sides by 4, we get

4 = 3 + b 2

subtracting 3 from both sides, we get

4 -3 = 3 -3 + b 2

1 = b 2.