apr5ectiondams apr5ectiondams

08-07-2016
Mathematics

contestada

how much would $500 invested at 4% interest compounded continuously be worth after 7 years? round your answer to the nearest cent

Respuesta :

olemakpadu olemakpadu

10-07-2016

P = 500, r = 4% = 0.04 per year, n = 7 years.

A = P(1 + r)ⁿ

A = 500(1 + 0.04)⁷

A ≈ 500(1.04)⁷ ≈ 657.97

Amount ≈ $ 657.97

Answer Link

Otras preguntas

If m∠xwy = 20°, m∠xwz = 40°, and xy = 16, what is the value of yz?.

Total cost for a $1.95 hotdog with a 7% sales tax.

Who was Mookmanish? And what was his major contribution in the war of 1814?

how many solutions does this equation have? 6x+5=4x+5

i need help gettinng the answer

A design team is working on creating a new energy-efficient light. They have completed the following steps: They asked questions, did research, and determined t

A car rental company offers two plans for renting a car. Plan A: 40 dollars per day and 10 cents per mile Plan B: 65 dollars per day with free unlimited mileage

Monu QUR Calculating Volume A rectangular prism has a length of 8 meters, a width of 4 meters, and a height of 5 meters. Which equations could be used to determ

How much aluminum nitrate can be found when 21g of aluminum react with lead (II) nitrate? Answer in units of mol.

Joel bought 1.25 pounds of apples. Apples cost $0.88 per pound. How much did Joel spend on apples?