A person places $661 in an investment account earning an annual rate of 7.1%, compounded continuously. Using the formula V = Pe^{rt}V=Pe
rt
, where V is the value of the account in t years, P is the principal initially invested, e is the base of a natural logarithm, and r is the rate of interest, determine the amount of money, to the nearest cent, in the account after 16 years.

answer: 370

step-by-step explanation:

remember use pemdas! there are no parentheses or exponents so lets move onto the first part of the equation: multiplication and division. first, lets break the first part of the equation up into something easier using the distributive property. 28 * 12= (20 *12) + (8*12) you know that 20*12 is 240 and 8*12 is 96. add them and you get 336. then, lets solve the last part of the equation (the last part of pemdas is addition and subtraction). 336 plus 34 is 370. hope this !

after simplifying it i got: -36.25 as my answer. hope that !

69.64%

step-by-step explanation: