cloudbaby4 cloudbaby4
  • 04-08-2021
  • Mathematics
contestada

How much would $600 invested at 8% interest compounded continuously worth after 3 years?

Respuesta :

khoa18050
khoa18050 khoa18050
  • 04-08-2021

Answer:

[tex]a \: = \: pe ^{rt} [/tex]

[tex]a = 600e^{(.08)(3)} [/tex]

[tex]a = 762.75 \: dollars[/tex]

Since the question stated that the interest is compounded continuously, we know that Euler number is required

Answer Link

Otras preguntas

In the NFL, a football field is 200 feet longer than it is wide, and the area of the field is 57,600ft^2 What is the width of the field? (Before you mess this u
Find the value of x in each case. Give reasons to justify your solutions! H∈ IG
what is the volume of this figure ??
Which of John Luckys ideas appeared in the declaration of independence?
7. Simplify the following equation: 9x-7i > 3 (3x-7u)
You invest $2,800 in an account that pays an interest rate of 5.5%, compounded continuously.
A molecule of an organic compound contains at least one atom of
Three students have each saved $1,000. Each has an investment opportunity in which he or she can invest up to $2,000. Here are the rates of return on the studen
how did Stalin use propaganda?
Explain what alphanumeric data is.