Peter accumulated $7,500 in credit card debt. If the interest rate is 3.5% per year and he does not make any payments for 10 years, how much will he owe on this debt in 10 years by compounding continuously

$10579.49

Step-by-step explanation:

The formula for amount gotten after a period of time (in years) on a principal which is compounded continuously is given as:

where P = principal (amount borrowed)

r = interest rate

t = number of years

Peter accumulated $7,500 in credit card debt with interest rate as 3.5% per year and he does not make any payments for 10 years.

Therefore, his debt is:

A = $10579.49

He will owe $10579.49 after 10 years

A= $10,643.01

Step-by-step explanation:

if you are rounded to the nearest cent

Identify the values of each variable in the formula. Remember to express the percent as a decimal.

A=?

P= $7,500

r= 0.035

t= 10 years

For compounding continuously, use the formula A=Pert.

Substitute the values in the formula and compute the amount to find

A= 7,500e

A= $10,643.01

b or 2, just plug these equations into your graphing calculator then check the graph to see the image. if it matches up then that's your answer!

people grow faster than other people.

step-by-step explanation:

should you really be posting this isn't math boi.