Question content area top Part 1 Suppose that P is invested in a savings account in which interest, k, is compounded continuously at 7 % per year. The balance P(t) after time t, in years, is P(t)equals=Upper P e Superscript ktPekt. Question content area bottom Part 1 a7% per year. The balance P(t) after time t , in years, is P(t)=Pe^(kt). aP

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Question content area top Part 1 Suppose that P is invested in a savings account in which  interest, k, is compounded continuously at 7 % per year. The balance  P(t) after time  t, in  years, is  P(t)equals=Upper P e Superscript ktPekt. Question content area bottom Part 1  a7% per year. The balance P(t) after time t , in years, is P(t)=Pe^(kt). aP and 0.07 ? P(t)= b$5,000 is invested what is the balance after 8 years? $ (Round to the nearest cent.)

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