Suppose you invest $1700 at an annual interest rate of 8.8% compounded continuously. How much will you have in the account after 7.5 years?

asked Feb 3, 2023 68.4k views

12 votes

5.5k points

Please log in or register to add a comment.

5 votes

Answer:

after 7.5 years you will have: 3200.11

The total compound interest is 1,447.56.

Explanation:

$(8.8)/(100) = 0.088\\1700(1+0.088)^(7.5) = 3200.11\\$

5.7k points

10 votes

After 7.5 years, you will have $3,200.12

5.5k points

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

6.0m questions

7.9m answers