How much would $500 invested at a 4% interest compounded continuosly be worth after 7 years round your answer to the nearest cent

Question

asked Mar 15, 2023 170k views

1 Answer

Zamicol · Answer 1 · 2023-03-20T16:36:00+0000

Answer: F = 661.56

Explanation: interest formula: F = Pe^(rt)

F = future value

P = present value = 500

r = interest rate = 0.04

t = years = 7

F = 500e^(0.04 * 7)