A person places $7420 in an investment account earning an

Last updated: 7/28/2022

A person places $7420 in an investment account earning an annual rate of 5.9%, compounded continuously. Using the formula V = Peʳᵗ where V is the value of the account in t years, P is the principal initially invested, e is the base of a natural logarithm, and r is the rate of interest, determine the amount of money, to the nearest cent, in the account after 20 years.