Select your answer

$(4$ out of $4)$

Using the formula $A(t)=a{e}^{rt},$ what is the value of an investment with an initial value $($indicated by the variable a$)$ of $$1,000$ that continuously compounded at $8\%(r)$ over $50$ years $($ t $)?($Use the precise value of e or an approximate value of e rounded to six decimal places.$)$

$$6,542$

$$12,355$

$$18,627$

$$32,218$

$$54,598$