Leahnetic Leahnetic

09-08-2019
Mathematics

contestada

please help!!!!! what will be the balance in an account that was initially $400 and has been drawing 5.5% interest compounded continuously for 8 years? thank you in advance!!

Respuesta :

sqdancefan sqdancefan

09-08-2019

Answer:

$621.08

Step-by-step explanation:

The formula for the amount (A) resulting from principal P being invested at rate r continuously compounded for period t is ...

A = Pe^(rt)

Filling in the given numbers and doing the arithmetic, we get ...

A = $400e^(0.055·8) ≈ $621.08

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Аноним Аноним

07-04-2022

Answer:

A = $400e^(0.055·8) ≈ $621.08

Step-by-step explanation:

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