Register
You invest 2600 account that pays interest rate of 8.25 percent compounded continuously what is the balance of your account after 5 years round inch to nearest hundreth
91.1k views
1 vote
You invest 2600 account that pays interest rate of 8.25 percent compounded continuously what is the balance of your account after 5 years round inch to nearest hundreth

User Kenna
by
8.0k points

1 Answer

5 votes
The formula for that is A(t)=Pe^rt. You are looking at values of A(t)=2600*e^(.0825)(5). You must be doing natural logs! Simplifying gives you A(t)=2600(1.510589) which is 3927.53
User Zacharytamas
by
9.1k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers

Other Questions

How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Write words to match the expression. 24- ( 6+3)
A dealer sells a certain type of chair and a table for $40. He also sells the same sort of table and a desk for $83 or a chair and a desk for $77. Find the price of a chair, table, and of a desk.
Link Copied!