Question

in 2011, you invested 5000 in an account at 4.5% interest compound continuously . predict how much money you will have in 2020 !

Answer 1

Interest = Principal x rate x time

Principal = 5000 rate = 4.5% t= 10 years

Amount =P(1 + r/n)nt

Amount = 5000(1 +.045/10)10

A = 5000( 1 + .0045) 10

A = 5000( 1.0045) 10

Total Amount money in 2020 = Php. 50,225