A person places $$ \$ 98800 $$ in an investment account earning an annual rate of $$ 4 \% $$, co continuously. Using the formula $$ V=P e^{r t} $$, where $$ V $$ is the value of the account in the principal initially invested, $$ e $$ is the base of a natural logarithm, and $$ r $$ is the rate determine the amount of money, to the nearest cent, in the account after 19 years.

Question

UpStudy AI · Accepted Answer

Calculate the value by following steps:
- step0: Calculate:
  $$98800e^{0.76}$$
- step1: Convert the expressions:
  $$98800e^{\frac{19}{25}}$$
- step2: Rewrite the expression:
  $$98800\sqrt[25]{e^{19}}$$
The calculation gives us the approximate value of the investment after 19 years:

$$
V \approx 211261.69
$$

Thus, the amount of money in the account after 19 years, rounded to the nearest cent, is **\$211,261.69**.
After 19 years, the investment will be approximately \$211,261.69.

Solución de inteligencia artificial de Upstudy

Responder

Solución

Mind Expander

preguntas relacionadas

Latest Calculus Questions