the amount of money in an account can be determined by the formula a re where is the
initial investment, r is the annual interest rate, and tis the number of years the money was
invested. what is the value of a $5000 investment after 18 years, if it was invested at 4% interest
compounded continuously?

$10272.17

Step-by-step explanation: Please see attachment for explanation

Step-by-step explanation:

Since it is compounded continuously, we will use:

is the amount invested.

is the rate.

is the number of years you let the money sit.

is the future amount after the years that has been accumulated.

(Note:

I'm going to write as a decimal. .)

(approximated)

(approximated)

To the nearest cent this is .

$655.61 which is option c

step-by-step explanation:

price of house =   $146,000

initial rate = 3.5%

mortgaged paid in this = 3.5 % of $146,000

                                        =

                                        =$5110

the total years would be = 7

total mortgaged paid = 7 * $5110

                                      =$35770

remaining money = $146000-35770

                                =$110230

new mortgaged payment = 5 % of 110230

                                            =  

                                            =$655.61