Suppose you invest 1050 at an annual interest rate of 5.5% compounded continuously. how much will you have in the account after 5 years? round the solution to the nearest dollar.

$1372

Step-by-step explanation:

The formula to calculate the compound amount is given by :-

, where P is principal amount, r is rate of interest and t is time.

Given: P = $1050

r=5.5%=0.055

t= 5 years

Now, the compound amount after 5 years will be :_

You will have $1372 in the account after 5 years.

answer 1 : option "c"

answer 2 : option "d"

answer 3 : option "b"

answer 4 : option "d"

answer 5 : option "b"

answer 6 : option "a"

answer 7 : option "c"

answer 8 : option "d"

answer 9 : option "c"

answer 10 : option "d"

answer 11 : option "c"

answer 12 option "b"

answer 13 option "c"

answer 14 option "c"

answer 15 option "d"

answer 16 option "a"

answer 17 option "b"

answer 18 option "c"

answer 19 option "a"

answer 20 option "a"

answer 21 option "c"

d