You deposit $2500 in an account that pays 3% annual interest compounded continuously. What is the balance in your account after 4 years?

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Tkhm asked Aug 8, 2022

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You deposit $2500 in an account that pays 3% annual interest compounded continuously. What is the balance in your account after 4 years?

Mathematics
high-school

Tkhm asked Aug 8, 2022

by Tkhm

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Sureeeeeeeeeeeeeeeeeeeeeeee

Sschober answered Aug 10, 2022

by Sschober

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23 votes

Answer:

A≈$2819

Explanation:

In this case P=$2500, r=3%, t=4

You deposit $2500 in an account that pays 3% annual interest compounded continuously-example-1

IBPX answered Aug 14, 2022

by IBPX

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