Amanda invests $6300 in a new savings account which earns 3.9% annual interest, compounded continuously. What will be the value of her investment after 7 years?

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asked Apr 24, 2023 175k views

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Amanda invests $6300 in a new savings account which earns 3.9% annual interest, compounded continuously. What will be the value of her investment after 7 years?

Mathematics
college

Shambho asked

by Shambho

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1 Answer

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This is Po(1+0.039/4)^28, divide interest by 4 and raise to 7 years* 4 compounds per year. Round at end.
=$8266.63

Nikita Kalugin answered May 1, 2023

by Nikita Kalugin

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