A
note that r = 3.75% = 0.0375
A(9) = 10500 × [tex]e^{0.0375(9)}[/tex] = 10500 × [tex]e^{0.3375}[/tex] = 14, 715.12
We are given formula for continuous change function A(t) = Pe^rt.
We need to find the value of $10,500 investment amount grows 3.75% each year after 9 years.
Plugging values of P=10500
r= 3.75% = 0.0375 and
t=9 in given formula.
We get
[tex]A(9) = 10500e^{0.0375\times 9}[/tex]
Let us simplify it now.
[tex]e^{0.0375\times 9}=e^{0.3375}=1.40144[/tex]
[tex]=10500\times \:1.40144\dots[/tex]
[tex]\mathrm{Multiply\:the\:numbers:}\:10500\times \:1.40144\dots =14715.11589\dots[/tex]
Rounding it to the nearest cents.
=14715.12.
