Invest 2,000 for 20 months 3% interest compounded continously

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asked Jan 9, 2018 206k views

1 vote

Invest 2,000 for 20 months 3% interest compounded continously

Mathematics
high-school

JiashenC asked

by JiashenC

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1 Answer

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A=pe^rt
P principle 2000
R interest rate 3/100=0.03
t time 20/12
E constant
A future value

A=2,000×e^(0.03×(20÷12))
A=2,102.54

Lynette answered Jan 14, 2018

by Lynette

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