averyyhowe0315 averyyhowe0315

08-05-2018
Mathematics

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Find the amount in a continuously compiunded account for the following condition. Principal, $4000; Annual interest rate, 5.1%; time, 2 years

Respuesta :

altavistard altavistard

08-05-2018

A = P*e^(rt)

Here,

A = $4000*e^(0.051*2) = $4000*e^1.02 = $4000(2.773) = $11092.78

Note: This seems very high to me.

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