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A person places $1380 in an investment account earning an annual rate of 8.6%, 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 10 years.

Respuesta :

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Answer:

V = 3261.16

Step-by-step explanation:

Given:

P = 1380

r = 8.6% or 0.086

t = 10

Work:

[tex]V=Pe^{rt}\\\\V=1380e^{0.086*10}\\\\V=1380e^{0.86}\\\\V=3261.16[/tex]

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