Use the Formula $A = p e ^ { r t }$

Use the formula $A = p e ^ { r t }$ to find the total amount of money accumulated at the end of the indicated time period by compounding continuously: $6,750 for 11 years at 9.5%. The choices are rounded to the nearest cent.

A) $7,677.18
B) $19,192.94
C) $5,187.28
D) $71,013.88
E) $47,982.35

Correct Answer:

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Access For Free