A person places $641 in an investment account earning an annual rate of 5.8%, compounded continuously. Using the formula V = Pe"t, where V is the value of the account in t years, P is the principal initially invested, e is the base of a natural logarithm, andr is the rate of interest, determine the amount of money, to the nearest cent, in the account after 2 years.

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A: P= pert

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Q: Choose the correct answer below.

A: As per our guidelines we are supposed to answer only one question at a time. Kindly repost other…