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Warren has $10,000 to invest. He finds a bank that will give him a 9% interest rate. After investing, he leaves it untouched for 8 years. How much is in the account if it is compounded monthly? $ How much
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Warren has $10,000 to invest. He finds a bank that will give him a 9% interest rate. After investing, he leaves it untouched for 8 years.

How much is in the account if it is compounded monthly? $
How much is in the account if it is compounded continuously? $
*NOTE: Round to the nearest penny (hundredths place).

User Emmie
by
4.2k points

1 Answer

5 votes

Answer:

The final balance is £20,489.21.

The total compound interest is £10,489.21

Explanation:

pretty sure you know the answer after you round this

User Avinash Reddy
by
3.7k points
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