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.)