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How much would $500 invested at 9% interest compounded continuously be worth after 4 years?
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Apr 16, 2018
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How much would $500 invested at 9% interest compounded continuously be worth after 4 years?
Mathematics
high-school
Valentin Brasso
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Valentin Brasso
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Answer:
705.8
Explanation:
Vladimir Kolesnikov
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Apr 17, 2018
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Vladimir Kolesnikov
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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)
TheoremOfBeethoven
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Apr 22, 2018
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TheoremOfBeethoven
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