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How much would $500 invested at 9% interest compounded continuously be worth after 4 years?
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1 vote
How much would $500 invested at 9% interest compounded continuously be worth after 4 years?

User Valentin Brasso
by
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2 Answers

4 votes

Answer:

705.8

Explanation:

User Vladimir Kolesnikov
by
7.9k points
3 votes
Asuming the interest rate is 9% per annum, then by using the formula P[1+(r/100)]^t

Where: r = 9% , P = $500 , t = 4years

500*[1+(9/100)]^4
= $705.80 (nearest ten cents)
User TheoremOfBeethoven
by
9.1k points
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