PLZ PLZ HELP Mark is investing $47,000 in an account paying 5.26% interest compounded continuously.
What will Mark's account balance be in 17 years?
O $114,932.80
$114,925.39
$114,921.47
$114.925.46

Choice A) 114,932.80

Work Shown:

A = P*e^(r*t)

A = 47000*e^(0.0526*17)

A = 114,932.799077198

A = 114,932.80

Notes:

P = 47,000 is the principal or amount depositedr = 0.0526 is the decimal form of 5.26%The "e" refers to the special constant e = 2.718... which is similar to pi = 3.14... I would let your calculator handle this constant. There should be a button labeled "e".

The correct awnser is 29.76 pounds.