xoxonatahmalisss xoxonatahmalisss
  • 06-03-2017
  • Business
contestada

How much would $500 invested at 8% interest compounded continuously be worth after 3 years? round your answer to the nearest cent?

Respuesta :

nobillionaireNobley
nobillionaireNobley nobillionaireNobley
  • 16-03-2017
Amount of investment after n years at continuous compounding is givent by A = Pe^rn; where P is the initial investment, r is the rate.

Therefore, the value of $500 invested at 8% interest compounded continuously is given by 500e^(0.08 x 3) = 500e^0.24 = 500 x 1.2712 = $635.62
Answer Link
abbynormal04
abbynormal04 abbynormal04
  • 24-02-2021

Answer:

$635.61

Explanation:

a p e x :))

Answer Link

Otras preguntas

Which expression is equivalent to (x+1)^2-g/x+4?
what does the personification talk face to face with the stars
Use the above picture to fill in the blanks for the following statement. The _______sodium combines with the _______ chlorine to form th
Who were the two groups that fought in the America civil war
PLZ HURRY I DONT HAVE A LOT OF TIME Which of the following fits under Both in the diagram? a. led easy lives c. became religious leaders b. built missions d. we
How to solve a Solve 4(3x-1) = 20
using the diagram at the right and thinking of what you have already leaned about the relationship between frequency and the wavelength of a sound wave, complet
Moving aside as their dad opened the garage door, Parker and Blaire gasped when they saw what was inside. It was the old and rare car model their dad had bee
can u guys please help?
Do you think this graph looks more like a quadratic or exponential function? Why do you think so?