jocelynreyes3030
jocelynreyes3030 jocelynreyes3030
  • 02-03-2020
  • Mathematics
contestada

How much would $500 invested 4% interest compounded continuously be worth after 7 years?

Respuesta :

goddessboi goddessboi
  • 02-03-2020

Answer:

$661.56

Step-by-step explanation:

Formula for compounded interest -> I=Pe^(rt)

I=500(e^(0.04*7))

I=500(e^0.28)

I=661.56

So the value after 7 years would be $661.56

Answer Link

Otras preguntas

what is the equation of a line that contains the point (2,-5) and is parallel to the line y=3x-4
What type of economy does North Korea have?
our local coffee shop has recently implemented an app that allows customers to receive a free drink for every 10 drinks purchased, gives birthday rewards, and p
Select the correct answer. What do microwaves have in common with light waves? O Both are compression waves. A. B. 0 Both are longitudinal waves. 0 o Both are e
This question might be confusing to me because it talks about Unknown angle problems with Algebra and I may need help on this, please.​
Find the zero of polynomial 7x+5
Calculate the speed of an electron that has fallen through a potential difference of (a) 125 volts and (b) 125 megavolts.
What kind of channels are located in the input region? a. Voltage gated channels opened by neurotransmitter molecules b. ligand gated channels opened by neurotr
How does the extended metaphor in Paragraph 3 of the passage affect its meaning?
What is the electoral college?