Peter put $8,000 into a savings account that pays 6% interest, compounded continuously. After five years, Peter will have $ 8,001.35 10,798.53 21,744.00 160,634.32 in the account.
Hint: Use the formula A = Pert, where A is the amount after t years, P is the amount invested, r is the rate of interest, t is the time period, and e = 2.718. Use a calculator to compute your answer