If you deposit $14,000 in an account that pays 7.47% annual interest compounded continuously. remember a=pe^rt.

what is the balance after 1 year? 5 years? 10 years? 25 years?

The balance after 1 year, 5 years, 10 years, 25 years are 15085.85, 20339.35, 29549.22 and 90609.34 respectively.

Step-by-step explanation:

It is given that the principle amount is $14,000 and interest rate is 7.47%.

The formula for amount is

Where, P is principle, r is rate of interest and t is time in years.

Substitute P=14000 and r=0.0747 in the above equation.

        ..... (1)

Substitute t=1 in equation (1) to find the balance after 1 year.

Substitute t=5 in equation (1) to find the balance after 5 year.

Substitute t=10 in equation (1) to find the balance after 10 year.

Substitute t=25 in equation (1) to find the balance after 25 year.

Therefore the balance after 1 year, 5 years, 10 years, 25 years are 15085.85, 20339.35, 29549.22 and 90609.34 respectively.

what are the options? ?

step-by-step explanation: