Answer:
7,078,912 cents
Step-by-step explanation:
Given the formula for calculating the value of the account in t years as;
V = Pe^rt
P is the principal initially invested
e is the base of a natural logarithm,
r is the rate of interest
t is the time
Given
P = $51200
r = 5.4% = 0.054
t = 6years
Substitute
V = 51200e^(0.054)(6)
V = 51200e^(0.324)
V = 51200(1.3826)
V = $70,789.12
V = 7,078,912 cents
hence the amount in the account after 6 years to the nearest cent is 7,078,912 cents
