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Edgar accumulated $1,000 in credit card debt. If the interest is 10% per year and he does not make any payments for 4 years, how much will he owe on this debt in 4 years by compounding continuously? Provide
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Edgar accumulated $1,000 in credit card debt. If the interest is 10% per year and he does not make any payments for 4 years, how much will he owe on this debt in 4 years by compounding continuously?

Provide your answer below:

A= $ __

User Prilia
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1 Answer

7 votes
ANSWER: 400
10% of 1000 is 100 x 4 = 400
User SomeCallMeTim
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