Question

Use the equation A=Pe^rt to answer each question. Show all work. First question

Answer 1

Answer:

$7209.78

Explanation:

To find the amount in the account after 6 years, we will use the following equation

$A=Pe^{rt}$

Where P is the initial amount, r is the interest rate and t is the time in years.

So, replacing P = $5000, r = 6.1% = 0.061, and t = 6 years, we get

$\begin{gathered} A=5000e^{0.061t} \\ A=5000e^{0.061(6)} \\ A=5000e^{0.366} \\ A=5000(1.44) \\ A=7209.78 \end{gathered}$

Therefore, the answer is $7209.78