Question

Need help on this!!! 7 points!!!

Answer 1

$226,863.29

Explanation:

P = $47,000

r = 0.0926

t = 17

A =
`47,000(2.718)^((0.0926)(17))`

A = $226,863.29

Answer 2

P= $226,863.29

Explanation:

Compounded Continously means

P= P₀e^(rt)

plug in givens

P=(47000)e^(0.0926*17)

Use Calculator

and get P= $226,863.29