Jace invested $8,300 in an account paying an interest rate of 6.6% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 14 years?

$20911

Step-by-step explanation:

Given

Investment   P₀ = $8300Interest rate   r = 6.6% Compound = continuous Time   t=14 yearsP = ?

Formula for continuous compound interest:

P = P₀e ^rt, where e = 2.71828, constant used for continuous interestP = 8300*(2.71828)^(14*0.066) P = $20910.57 = $20911 rounded to the nearest dollar