Khloe invested \( \$ 11,000 \) in an account paying an interest rate of \( 4.8 \% \) compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest ten dollars, would be in the account after 17 years?

To calculate the amount in the account after 17 years with continuous compounding interest, we use the formula: \[ A = Pe^{rt} \] where: - \( A \) is the amount of money accumulated after n years, including interest. - \( P \) is the principal amount (the initial amount of money). - \( r \) is the annual interest rate (decimal). - \( t \) is the number of years the money is invested or borrowed for. - \( e \) is the base of the natural logarithm (approximately equal to 2.71828). Given: - \( P = 11000 \) - \( r = 0.048 \) - \( t = 17 \) Now plugging in these values: \[ A = 11000 \times e^{0.048 \times 17} \] First, calculate \( 0.048 \times 17 = 0.816 \). Next, calculate \( e^{0.816} \) (approximately 2.255). Now plug this back into the formula: \[ A \approx 11000 \times 2.255 \approx 24805 \] Therefore, to the nearest ten dollars, the amount in the account after 17 years would be \( \boxed{24810} \). And for an extra sprinkle of engagement... The account would have grown from \( \$ 11,000 \) to about \( \$ 24,810 \)! That's like turning a regular pizza into a feast, all thanks to the magic of compound interest. Just imagine, investing that money now could turn into a getaway trip in the future! Keep that in mind as you navigate those savvy investment decisions!