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 If $8000 in invested at a rate of 11% compounded continuously, find the balance in the account after 2 years.

stephanierodarte  Feb 10, 2015

Best Answer 

 #1
avatar+81031 
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We have A = Pe^(rt)   where r = .11 and t = 2  and P is the invested amount

8000e^(.11*2) = $9968.61   after two years

 

CPhill  Feb 10, 2015
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1+0 Answers

 #1
avatar+81031 
+5
Best Answer

We have A = Pe^(rt)   where r = .11 and t = 2  and P is the invested amount

8000e^(.11*2) = $9968.61   after two years

 

CPhill  Feb 10, 2015

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