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

Explain the difference between the preterite and the imperfect.
Why is each element unique and different from other elements in chemical properties? A) Each element has a unique atomic mass. B) Each element has a unique at
Which of these developments did not occur before the rise of chiefdoms in Neolithic societies? A.Social stratification B.Creation of written languages C.Deve
There are 7 red candies in a pack, 9 blue candies in a pack, and 12 pink candies in a pack. If your wonderful math teacher wants to split the candy for their st
name the property 5x + 2 = 2 + 5x
the pharaohs had a canal built connecting the Nile to the red sea, opening up trade routs to Arabia, true or false
Help please I don't get it
Is this a strong or weak topic....litetary devices in american poetry
Solve 3√x+3=15 please show work
An adolescent has begun using benzoyl peroxide lotion twice daily to treat acne. the patient reports experiencing drying and burning of the skin. what will the