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

what is the product of -5p 3(4p 2 + 3p - 1)
Gametes that are the same in size and shape is known as _____.
The location of the geographic North Pole stays the same. True False
20 to 25 percent change
What is the answer to, "Use exponents to write an expression for 1 billion
"I the Lord am your God You shall have no other gods besides Me." Which ancient river civilization would believe in this quote? Israelites Sumerians Egyptian
Which of the following sentences is written in the passive voice? A. My friend searched high and low for the perfect birthday gift for his mother. B. My friend
A rectangle is drawn with perimeter 75 cm. The length is 13 more than the width. What is the length?
Use the area model to find the product of 28×32
Sue wants to use mental math to find 7x53 write an expression she could use