Math Problem Statement

Find the value of an investment of

$ 10 comma 000$10,000

for

1414

years at an annual interest rate of

3.15 %3.15%

compounded continuously.

Question content area bottom

Part 1

The value of the investment is****

​$enter your response here.

​(Do not round until the final answer. Then round to the nearest cent as​ needed.)

Solution

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Math Problem Analysis

Mathematical Concepts

Exponential Growth
Continuous Compounding
Interest Calculation

Formulas

Continuous compounding formula: A = P * e^(r * t)

Theorems

Exponential Growth and Continuous Compounding

Suitable Grade Level

Grades 11-12