Answer:
The total in the account after 10 years would be: $14,190.68
Step-by-step explanation:
Recall the formula for continuous compounding:
[tex]A=P\,e^{r\,t}[/tex]
where "A" is the accrued value after t years (what we need to find), "P" is the principal invested (in our case $10,000), "r" is the interest rate in decimal form (in our case r = 0.035), and "t" is the time in years (in our case t = 10). Therefore the formula becomes:
[tex]A=P\,e^{r\,t}\\A=10000\,\,e^{0.035\,*\.10}\\A=14190.68[/tex]
Therefore the total in the account after 10 years would be: $14,190.68
