Taylor invested $11,000 in an account paying an interest rate of 3.5% compoundedcontinuously. Assuming no deposits or withdrawals are made, how much money, tothe nearest dollar, would be in the account after 14 years?

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Answered: Taylor invested $11,000 in an account…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Taylor invested $11,000 in an account paying an interest rate of 3.5% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 14 years?