arah invested $$ \$ 2,500 $$ in an account aying an interest rate of $$ 2.1 \% $$ ompounded continuously. Assumin o deposits or withdrawals are nade, how much money, to the earest hundred dollars, would be he account after 14 years?

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UpStudy AI · Accepted Answer

We use the formula for continuous compounding:

A = P × e^(rt)

where
  P = $2,500,
  r = 0.021 (2.1% expressed as a decimal),
  t = 14 years.

Substitute in the values:

A = 2500 × e^(0.021×14) = 2500 × e^(0.294).

Evaluating e^(0.294) gives approximately 1.3419, so

A ≈ 2500 × 1.3419 ≈ 3354.75.

Rounding to the nearest hundred dollars, the balance is approximately $3,400.
After 14 years, the account would have approximately \$3,400.

arah invested in an account
aying an interest rate of
ompounded continuously. Assumin
o deposits or withdrawals are
nade, how much money, to the
earest hundred dollars, would be
he account after 14 years?

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arah invested in an account aying an interest rate of ompounded continuously. Assumin o deposits or withdrawals are nade, how much money, to the earest hundred dollars, would be he account after 14 years?