cloudbaby4 cloudbaby4
  • 04-08-2021
  • Mathematics
contestada

How much would $600 invested at 8% interest compounded continuously worth after 3 years?

Respuesta :

khoa18050
khoa18050 khoa18050
  • 04-08-2021

Answer:

[tex]a \: = \: pe ^{rt} [/tex]

[tex]a = 600e^{(.08)(3)} [/tex]

[tex]a = 762.75 \: dollars[/tex]

Since the question stated that the interest is compounded continuously, we know that Euler number is required

Answer Link

Otras preguntas

PLEASE HELP I GIVE THANKS
What are the factors of 6x + 24?
Thank you Philo for your answer. I have one more question for you regarding the same rectangular prism that is 3 units long, 2 units wide and has 7 layers and 4
On Being Brought from Africa to America by Phillis Wheatley 'Twas mercy brought me from my Pagan land, Taught my benighted soul to understand That there's a God
How much money, in dollars, does one mole of nickels represent?
How many combinations of 5 students can a teacher choose from 24 students? A. 5,100,480 B. 42,504 C. 7,962,624 D. 120
A student government organization is selling Christmas trees as a fundraiser. On Friday, they sold 5 noble fir trees and 3 douglas fir trees for a total of $420
What is the difference between "Herr" and "Herrn"?
Where did middle names come from
What are the factors of 6x + 24?