25-02-2020
Mathematics

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2. Ella invests $2,000 in an account that pays a 4% annual interest rate, compounded continuously. What is the value of her account after 5 years? Round your answer to the nearest dollar . Show your work.

Respuesta :

tolaosunrinde tolaosunrinde

25-02-2020

Answer: $2,442

Step-by-step explanation:

P=2000

r= 4%= 4/100= 0.04

t= 5 years

A is therefore 2000e0.04(5)

=2000e0.2

=$2,442.8

To the nearest dollar will give $2,442

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