How much would $250 invested at 10% interest compounded continuously be worth after 8 years? Round your answer to the nearest cent. Do not include units in your answer.

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asked Jul 10, 2018 193k views

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How much would $250 invested at 10% interest compounded continuously be worth after 8 years? Round your answer to the nearest cent. Do not include units in your answer.

Mathematics
high-school

Philselmer asked

by Philselmer

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For continuous compounding:

A=Pe^(rt) A=final amount, P=principle, r=annual rate, t=time years

A=250e^(0.1*8)

A=556.39

NiravS answered Jul 14, 2018

by NiravS

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