Respuesta :
Answer:
11,260
Step-by-step explanation:
im pretty sure that the formula were were using was
A=Pe^rt.
That means, we have to plug it in the formula.
P= 7500
r= 0.029
t= 14
you calculate it and then to the nearest ten dollars, your answer will be
$11,260. :)
Using Exponential Function, the amount of money to the nearest $10 would be in the account after 14 years is $11,260.
What is Exponential function?
Exponential function is "a function whose value is constant raised to the power of an argument, especially the function whose constant is e".
According to the question,
Ariana invested $7500 in an account paying interest rate 2.9% compounded continuously assuming no deposits or withdrawals are made.
In order to find amount of money after 14 years only if we use exponential function.
Formula to find amount of money after 14 years = P .[tex]e^(rt)[/tex] where 'r' is the rate of interest and 't' is time period and 'P' is the Principal.
Amount of money after 14 years = P .[tex]e^(rt)[/tex]
= (7500)[tex]e^(0.029)(14)[/tex] [2.9% = [tex]\frac{2.9}{100}[/tex] = 0.029]
= 7500[tex]e^(0.406)[/tex]
= 7500 (1.5008) [The value of [tex]e^(0.406)[/tex] = 1.5008]
= 11,256.
Hence, using Exponential Function, the amount of money to the nearest $10 would be in the account after 14 years is $11,260.
Learn more about Exponential Function here
https://brainly.com/question/23132503
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