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Gertrude makes a one time deposit of $1200 into an account that pays 7% annual interest compounded continuously. Assuming Gertrude makes no additional deposits or withdraws, how much money would be in
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Gertrude makes a one time deposit of $1200 into an account that pays 7% annual interest

compounded continuously. Assuming Gertrude makes no additional deposits or
withdraws, how much money would be in the account after 7 years? Round to the nearest
penny.​

User AFS
by
4.6k points

1 Answer

3 votes

Answer:

$1788

Step-by-step explanation:

1200 x 0.07 = 84

84 × 7 = 588

588 + 1200 = 1788

User Alin Stoian
by
4.7k points
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