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

Freedom of speech can be limited whenever: the states want to limit it. it is likely to lead to immediate lawless action. the president chooses to limit it
Miguel has $20. If he spends $7.25 on a movie ticket, $3.95 for snacks and $1.75 for bus fare each way , how much money will he have left?
Which is not a property of light
What are all the powers of 4 in the range of 4 to 1000?
How to use the product of 108 and 4 to find the product of 324 and 4?
is an angle made of any 2 rays and why?
how do you one and fifty tenths to a decimal
in a bag of marbles, 1/2 of the marbles are red, 1/4 of them are green, and 1/5 of them are blue.If the remaining 2 marbles are white, what is the number of gre
what compromise did Alexander Hamilton, Thomas Jefferson, and James Madison reach regarding repayment of states debts
How can you choose values for x when making a table of values representing a real world situation?