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Aaliyah invested $550 in an account paying interest rate of 4% compounded constantly assuming no deposits or withdrawals are made how much money to the nearest cent would be in the account after 20 years
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Aaliyah invested $550 in an account paying interest rate of 4% compounded constantly assuming no deposits or withdrawals are made how much money to the nearest cent would be in the account after 20 years I NEED THE ANSWER ASAP PLEASE!!!!!

User Nabir
by
8.1k points

1 Answer

3 votes

Answer:

1224.05

Explanation:

formula:

PV(e^(it))

550*e^(.04*20)=1224.0475 which rounds to 1224.05

User Lucie Kulza
by
7.4k points
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