hawtshu5886 hawtshu5886
  • 04-02-2022
  • Mathematics
contestada

You deposit $500 into an account that pays 4.25% annual interest compounded continuously. What is the balance after 10 years?

Respuesta :

jdoe0001 jdoe0001
  • 04-02-2022

[tex]~~~~~~ \textit{Continuously Compounding Interest Earned Amount} \\\\ A=Pe^{rt}\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill & \$500\\ r=rate\to 4.25\%\to \frac{4.25}{100}\dotfill &0.0425\\ t=years\dotfill &10 \end{cases} \\\\\\ A=500e^{0.0425\cdot 10}\implies A=500e^{0.425}\implies A\approx 764.80[/tex]

Answer Link

Otras preguntas

Which culture is correctly matched with the form of writing it used?
Pitch me a short story idea. Nothing too short Nothing too long have it be simple so its like a 5th grader But not a simple as a 2nd grader. I fell asleep after
Answer both please......
Which of the following best describes the controversy in the United States over the 1868 purchase of Alaska?
Which scientific evidence would show that two species of birds are closely related
What is the name of a long letter like the ones Paul wrote to the people he had converted, answering their questions and settling problems? A. covenant B. Tor
Which one of these words should not be used in the comparative or superlative degree? A. Wealthy B. Sweet C. Smart D. Absolute
List at least two ways that Aristide Boucicaut changed shopping and marketing in his store, the Bon Marche. In full sentences.
Which is not an african nation
-1 1/6 - (-2 1/3) = Please explain how you got the answer! :)I need the answer quickly!!!