You invest $500 in an account with an annual interest rate of 1.1%, compounded continuously. How much money is in the account after 5 years? Round your answer to the nearest whole number

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asked Nov 18, 2018 138k views

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You invest $500 in an account with an annual interest rate of 1.1%, compounded continuously. How much money is in the account after 5 years? Round your answer to the nearest whole number

Mathematics
high-school

Yonghoon Lee asked

by Yonghoon Lee

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1 Answer

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original amount * ((100 + interest) / 100)^years

500 * 1.011^5 = 528.111691683 = $528

Stachu answered Nov 24, 2018

by Stachu

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