An original investment of $$ 9, 000$ earns $6.75 %$ interest compounded continuously. What will the investment be worth in 3 years? 30 years?

After 3 years, the investment will be worth $$ 11020.14$ .
(Do not round until the final answer. Then round to the nearest cent as needed.)
After 30 years, the investment will be worth $$ ◻$ .
(Do not round unti the final answer. Then round to the nearest cent as needed.)

Answer

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Answer

$$ 68185.00$

Steps

Step 1 ：Use the formula for continuous compounding interest: $A = P \cdot e^{(r t)}$

Step 2 ：Substitute the given values: $P = $ 9000$ , $r = 0.0675$ , $t = 30$

Step 3 ：Calculate the accumulated amount: $A = 9000 \cdot e^{(0.0675 \cdot 30)}$

Step 4 ：Round the final answer to the nearest cent

Step 5 ： $$ 68185.00$