Find the amount in a continuously compounded account for the following condition.
principal, $3000; annual interest rate, 5.5%; time, 4 years
***the balance after 4 years is $***
nothing.
(round the final answer to the nearest cent as needed. round all intermediate values to five decimal places as needed.)

***The balance after 4 years is $3738.23***

Step-by-step explanation:

The amount in a continuously compounded account is given by:

where P=$3000 is the principal, r=5.5% is the annual interest rate and t=4 years.

We substitute these values to obtain:

This will evaluate to:

Rounding to the nearest cent, we get: $3738.23

a c

step-by-step explanation: