Exponential Functions

Question

An investment of $92,000.00 earns 13.4% annual interest, compounded continuously. If no funds are added or removed from this account, what is the future value of the investment after 43 years? Round your answer to the nearest penny.

Future Value = $

Answer 1

A = Pe^rt

A = 92000e^0.134*43

A ≈ 29254496.78

Therefore, the future value of the investment after 43 years will be $29,254,496.78

Hope this helped!