a=?,P=5,00,r=2.75,t=10
A=P(1+rt)
A=5,000(1+2.75*10)
A=5,000(1+27.5)
A=5,000(28.5)
A=142,500
A savings account with a current balance of $5,000 earns 2.75% annual interest,
compounded continuously. To the nearest dollar, what will be the account balance in 10
years?
2 answers
5000(1+0.0275*10)
=6375
=6375
2 answers