jocelynreyes3030
jocelynreyes3030 jocelynreyes3030
  • 02-03-2020
  • Mathematics
contestada

How much would $500 invested 4% interest compounded continuously be worth after 7 years?

Respuesta :

goddessboi goddessboi
  • 02-03-2020

Answer:

$661.56

Step-by-step explanation:

Formula for compounded interest -> I=Pe^(rt)

I=500(e^(0.04*7))

I=500(e^0.28)

I=661.56

So the value after 7 years would be $661.56

Answer Link

Otras preguntas

how do you balance __H2SO4 + __B(OH)3 --> __B2(SO4)3 + __H2O
Hey guys, I need 5 sentences!¿Prefieres viajar en coche, en tren, en barco o en avión? ¿Por qué?
how do you balance __H2SO4 + __B(OH)3 --> __B2(SO4)3 + __H2O
how do you balance __H2SO4 + __B(OH)3 --> __B2(SO4)3 + __H2O
how do you balance __H2SO4 + __B(OH)3 --> __B2(SO4)3 + __H2O
how do you balance __H2SO4 + __B(OH)3 --> __B2(SO4)3 + __H2O
What are the advantages and disadvantages of globalization
What are the advantages and disadvantages of globalization
how do you balance __H2SO4 + __B(OH)3 --> __B2(SO4)3 + __H2O
What are the advantages and disadvantages of globalization