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7 June, 09:34

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.

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  1. 7 June, 09:51
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    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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