Question

PLEASE HELP

Calculate the total value of the investment given the following information and compounded continuously?

Principal $1000; rate 4.5%; term 10 years

Answer 1

Explanation:

Continuous compounding formula :

FV = PV e^rt FV = future value PV = present value

r = decimal interest rate t = years

FV = 1000 e^(.045 * 10) = $ 1568.31