Respuesta :

Answer:

[tex]A=\$584.43[/tex]  

Step-by-step explanation:

we know that

The formula to calculate continuously compounded interest is equal to

[tex]A=P(e)^{rt}[/tex]  

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest in decimal  

t is Number of Time Periods  

e is the mathematical constant number

we have  

[tex]t=17\ years\\ P=\$150\\ r=8\%=8/100=0.08[/tex]  

substitute in the formula above

[tex]A=150(e)^{0.08*17}[/tex]  

[tex]A=150(e)^{1.36}[/tex]  

[tex]A=\$584.43[/tex]  

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