Mathematics, 24.12.2020 07:40, allierl2001

A person places $6860 in an investment account earning an annual rate of 2.9%, compounded continuously. Using the formula V
=
P
e
r
t
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 11 years.

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A person places $6860 in an investment account earning an annual rate of 2.9%, compounded continuous...