Answer:The account balance will be approximately $7,498.46 after 11 years
Step-by-step explanation:
Calculate the account balance using the continuous compound interest formula: A = P * e^(rt), where A is the account balance, P is the principal amount ($3,872), e is the base of the natural logarithm (approximately 2.71828), r is the annual interest rate (6% or 0.06), and t is the time in years (11)
2 Substitute the values into the formula: A =$3,872 x e^(0.06 x 11)
3 Calculate the exponent: 0.06 x 11 = 0.66
4 Calculate e^(0.66) = 1.937
5 Multiply the principal amount by the calculated value: $3,872 x 1.937 = $7,498.464
