stmy1969
19.11.2020 •
Mathematics
A person places $7420 in an investment account earning an annual rate of 5.9%, compounded continuously. Using the formula V = Pe^{rt}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 20 years.
Solved
Show answers
More tips
- G Goods and services How to Choose a Vacuum Cleaner That Will Suit You?...
- F Food and Cooking Discover the most delicious spaghetti with these tips...
- P Philosophy How did the concept of module arise in computer science?...
- F Food and Cooking How to Cook Julienne? Recipes and Tips...
- D Dating, Love, Relationships 10 Useful Tips on How to Survive a Breakup?...
- F Food and Cooking Apple Cider Vinegar: The Ultimate Health and Beauty Solution...
- C Computers and Internet Е-head: How it Simplifies Life for Users?...
- F Family and Home How to Choose the Best Diapers for Your Baby?...
- F Family and Home Parquet or laminate, which is better?...
- L Leisure and Entertainment How to Properly Wind Fishing Line onto a Reel?...
Answers on questions: Mathematics
- M Mathematics Brahm has $250 in his bank account. This is $75 more than his brother, basil has in his bank account. Find the amount of money in basil’s account with an addition problem....
- M Mathematics Frankie purchases a 3 1/2 pound bag of chicken.he uses 1 1/3 of chicken for fajitas how many pounds of chicken are left?...
- E English Complete the following outline by identifying from whose perspective each part of “An Occurrence at Owl Creek Bridge” is told. Include notes on whether and how perspective...
- E English Write an informal letter to the vice Chancellor regarding any problem concerning the school. ...
Ответ:
Step-by-step explanation:
Step one:
given
principal=$7420
rate = 5.9%= 0.059
time = 20years
Step two:
Required
Final amount V
using the relation
Substituting we have
To the nearest cent
= $24147.50
The amount of money in the account after 20 years is $24147.50
Ответ:
Step-by-step explanation:
Hope this helps! Please consider making me Brainliest