Question

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

Answer 1

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)