Using continuous compounding, it is found that the money accumulated in the investment will be of $134,880.
What is the continuous compounding formula?
The amount of money after t years, with continuous compounding, is given by:
[tex]A(t) = Pe^{kt}[/tex]
In which:
- k is the growth rate, as a decimal.
In this problem, we have that the parameters are given by:
P = 65000, r = 0.073, t = 10.
Then, the amount is given by:
[tex]A(t) = Pe^{kt}[/tex]
[tex]A(10) = 65000e^{0.073 \times 10}[/tex]
A(10) = 134880.
More can be learned about continuous compounding at https://brainly.com/question/24722580
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