5. Emma's parents deposited $5000 into a bank account during her freshman year. The account pays 5% interest compounded continuously using the formula A = Pe", where A is the total amount accrued, P is the principal,ris the annual interest rate, and t is time, in years. Determine, to the nearest dollar, the amount in the account 4 years later. %3D

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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5. Emma's parents deposited $5000 into a bank account during her freshman
year. The account pays 5% interest compounded continuously using the
formula A = Pe", where A is the total amount accrued, P is the principal,ris
the annual interest rate, and t is time, in years. Determine, to the nearest dollar,
the amount in the account 4 years later.
%3D
Transcribed Image Text:5. Emma's parents deposited $5000 into a bank account during her freshman year. The account pays 5% interest compounded continuously using the formula A = Pe", where A is the total amount accrued, P is the principal,ris the annual interest rate, and t is time, in years. Determine, to the nearest dollar, the amount in the account 4 years later. %3D
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