Finite Math and Applied Calculus (6th Edition)

Published by Brooks Cole
ISBN 10: 1133607705
ISBN 13: 978-1-13360-770-0

Chapter 9 - Review - Review Exercises - Page 672: 14

Answer

${{\$}} 12,840.25$

Work Step by Step

The amount A after investing P dollars at rate r annual interest, compounded continuously for a period of t years is $A=Pe^{rt}$ Given $P=10,000,\ r=0.025,\ t=10$ $A=10,000e^{0.25}\approx{{\$}} 12,840.25$
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