A person places $4080 in an investment account earning an annual rate of 5.7%, compounded continuously. Using the formula V
=
P
e
r
t
V=Pe
rt
, where V is 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 4 years.

We have been given that a person places $6340 in an investment account earning an annual rate of 8.4%, compounded continuously. We are asked to find amount of money in the account after 2 years.

We will use continuous compounding formula to solve our given problem as:

, where

A = Final amount after t years,

P = Principal initially invested,

e = base of a natural logarithm,

r = Rate of interest in decimal form.  

Upon substituting our given values in above formula, we will get:

Upon rounding to nearest cent, we will get:

Therefore, an amount of $7499.82 will be in account after 2 years.

solution:

→c= a b , that is product of a and b is possible only when when a is m × n matrix and b is n × p matrix.

that is, number of columns of a= number of rows of b.

so, size of matrix , c= a b is , if a = (m × n)matrix

b= (n × p)matrix

then a b = [ (m × n)matrix] ×[   (n × p)matrix ]

→→c= a b= [m × p ] matrix

→→size of product a b will be equal to = number of rows of a × number of columns of b

72 is the answer to this problem