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

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asked Apr 16, 2018 49.2k views

2 Answers

TheoremOfBeethoven · Answer 1 · 2018-04-22T06:06:08+0000

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)

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

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