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Martha invests $7700 in a new savings account which earns 5.2% annual interest, compounded continuously. What will be the value of her investment after 4 years? Round to the nearest cent.
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Martha invests $7700 in a new savings account which earns 5.2% annual interest, compounded continuously. What will be the value of her investment after 4 years? Round to the nearest cent.

User Racso
by
8.7k points

1 Answer

1 vote

Answer:

Use Exponential Continuous Growth formula: Pe^rt

Explanation:

Pe^rt

7000e^0.52(4) <- In calculator

Should get about $7736.2

User Cristofor
by
8.3k points
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