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

Explain why the railroads were not built in a straight line from east to west.
Write an equation for a non-vertical line that contains the point ( 2,-4 )
Help please this I'd for geometry
how do you now 11/33 is a simplest form
What is the 54th element on the periodic table?
Predict what happens when zinc is added to water
which is more acidic pH2, pH4 or pH6?
What is 60 divided by 100 and why? ( I got 0.6 but I'm not sure ) plz hurry
Use the order of operations and the digits 2,4,6 and 8 to create an expression with a value of 2
which is more acidic pH2, pH4 or pH6?