A person places $641 in an investment account earning an annual rate of 5.8%, compounded continuously. Using the formula V = Pe^{rt}V=Pe rt , where V is the value of the account in t years, P is the principal initially invested, e is the base of a natural logarithm, and r is the rate of interest, determine the amount of money, to the nearest cent, in the account after 2 years.

r=5.8\%=0.058

r=5.8%=0.058

Move decimal over two places

P=641

P=641

Given as the pricipal

t=2

t=2

Given as the time

V=Pe^{rt}

V=Pe

rt

V=641e^{0.058( 2)}

V=641e

0.058(2)

Plug in

V=641e^{0.116}

V=641e

0.116

Multiply

V=719.8404\approx 719.84

V=719.8404≈719.84 - answer

Use calculator and round to nearest cent

Step-by-step explanation:

555.97

Step-by-step explanation:

Move decimal over two places

r = 5.2% = 0.052

Given as the principal

P = 207

Given as the time

t = 19

V=Pe^rt

Plug in

V = 207e^0.052(19)

Multiply

V = 207e^0.988

Use calculator and round to nearest cent

V = 555.9725 ≈ 555.97

step-by-step explanation:

you can add the two numbers and divide the result by 2. or you can find the gap between the two numbers and add half of this to the smaller number.