Answer:
$13,695.98
Step-by-step explanation:
Continuously compounded interest formula:
[tex] A = Pe^{rt} [/tex]
where
A = future value
P = principal (present value of amount invested)
e = mathematical constant, the base of natural logarithms
r = interest rate
t = time in years
We have: P = 6154; r = 8% = 0.08; t = 10
[tex] A = 6154e^{0.08 \times 10} [/tex]
[tex] A = 6154e^{0.8} [/tex]
[tex] A = 6154 \times 2.2255 [/tex]
[tex] A = 13695.98 [/tex]
Answer: $13,695.98
