Levi invested $8,500 in an account paying an interest rate of 3.4% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest ten dollars, would be in the account after 18 years?

If Levi invested $8,500 in an account paying an interest rate of 3.4% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest ten dollars, would be in the account after 18 years will be $15,516

Using this formula

Amount=P(1+r)n

Where:

p represent principal=$8,500

r represent rate=3.4% or 0.034

n represent number of years=18 years

Let plug in the formula

Amount=$8,500(1+0.034)∧18

Amount=$8,500(1.034)∧18

Amount=$8,500(1.82544)

Amount=$15,516

Inconclusion if Levi invested $8,500 in an account paying an interest rate of 3.4% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest ten dollars, would be in the account after 18 years will be $15,516

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