## A person places $736 in an investment account earning an annual rate of 1.3%, compounded continuously. Using the formula V = Pe

Question

A person places $736 in an investment account earning an annual rate of 1.3%,

compounded continuously. Using the formula V = Pert, 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 2 years.

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2021-09-14T19:11:13+00:00
2021-09-14T19:11:13+00:00 1 Answer
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## Answers ( )

Answer:$755.39

Step-by-step explanation:Put the numbers in the formula and do the arithmetic.

V = P·e^(rt)

V = $736·e^(0.013·2) ≈

$755.39The amount in the account after 2 years is $755.39.