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

solve: 3x+5-13x = 25
How do you put 20/80 in simplest form
Sean wrote a research paper last week but didn't cite any of his sources. What is this called?
What was the primary cause of the Punic wars in ancient Rome
which of the following is a form of antimatter? A.Isotope B.Element C.Neutrino D.Antineutrino
round 64,569 to the nearest thousand
How did European and Asian immigrants shape American society
The visible part of the spectrum of light is where you find which of the following? only blue and red only blue all colors only red
How did the Barbadians affect South Carolina? A. Their commitment to the plantation system made South Carolina one of the wealthiest colonies. B. Their att
How do I find the complement of an angle that measures 54degrees