An initial amount of $2300 is invested in an account at an interest rate of 5% per year, compounded continuously. Assuming that no withdrawals are made, find he amount in the account after four years. Do not round any intermediate computations, and round your answer to the nearest cent. X

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
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ISBN:9780079039897
Author:Carter
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Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
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An initial amount of $2300 is invested in an account at an interest rate of 5% per year, compounded continuously. Assuming that no withdrawals are made, find
the amount in the account after four years.
Do not round any intermediate computations, and round your answer to the nearest cent.
Transcribed Image Text:An initial amount of $2300 is invested in an account at an interest rate of 5% per year, compounded continuously. Assuming that no withdrawals are made, find the amount in the account after four years. Do not round any intermediate computations, and round your answer to the nearest cent.
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