Mathematics, 27.09.2020 14:01 brsglover8355

A person places $7120 in an investment account earning an annual rate of 7.4%, compounded continuously . Using the formula V = P * e ^ (rt) , where Vis the value of the account in years, Pis the principal initially invested , e is the base of a natural logarithmand r is the rate of interest, determine the amount of moneyto the nearest cent, in the account after 11 years.

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A person places $7120 in an investment account earning an annual rate of 7.4%, compounded continuous...

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