Maria invests $6,154 in a savings account with a fixed annual interest rate of 8% compounded continuously. What will the account balance be after 10 years?

$13,695.98

Step-by-step explanation:

Continuously compounded interest formula:

where

A = future value

P = principal (present value of amount invested)

e = mathematical constant, the base of natural logarithms

r = interest rate

t = time in years

We have: P = 6154; r = 8% = 0.08; t = 10

$13,695.98

step-by-step explanation:

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