Question

Use the continuous change function A(t)=Pert
𝐴
𝑡
=
𝑃
𝑒
𝑟
𝑡
to answer the question.

You invest $10,500 in an account that grows 3.75% each year. What will be your investment amount after 9 years?

(1 point)
Responses

$14,715.12

$14,715.12

$14781.48

$14781.48

$15,049.96

$15,049.96

$16,785.21

Answer 1

A(t) = P e^{rt} with P = 10,500, r = 0.0375, t = 9:

A = 10,500 · e^{0.0375·9} = 10,500 · e^{0.3375} ≈ 10,500 · 1.4014395 ≈ $14,715.12.

So the correct choice is $14,715.12.