Answer
${{\$}} 491.82$
Work Step by Step
Contiuous compounding is modeled by $A=Pe^{rt}$.
Here, $P=1000, r=0.04, t=10$
$A=1000e^{0.04(10)}\approx 1491.82469$
The interest earned is the difference
$1491.82-1000={{\$}} 491.82$
Finite Math and Applied Calculus (6th Edition)
by Waner, Stefan; Costenoble, Steven
Published by
Brooks Cole
ISBN 10:
1133607705
ISBN 13:
978-1-13360-770-0
Chapter 9 - Section 9.2 - Exponential Functions and Models - Exercises - Page 645: 87
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