Register
25 POINTS! If $500 is deposited in an account paying 5.25% interest compounded continuously, find the amount in the account after 3 years. * A $427.14 B $555.36 C $616.84 D $585.29
4.1k views
5 votes
25 POINTS!

If $500 is deposited in an account paying 5.25% interest compounded continuously, find the amount in the account after 3 years. *

A $427.14
B $555.36
C $616.84
D $585.29

User TerenceJackson
by
3.6k points

2 Answers

3 votes
5.25 divided by 100= 0.0525
500 times 0.0525=26.25
500-26.25=473.75
473.75 times 0.0525=24.87
473.75-24.87=448.88
448.88 times 0.0525=23.57
448.88-23.57=425.31

the answer could be A?
User Warunapww
by
3.7k points
4 votes

Answer:

i think it should be D.

Step-by-step explanation:

User Vimuth
by
3.4k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

3.4m questions

4.4m answers

Other Questions

Discuss the three key biological theories of motivation.
Why would variations in renewable energy supplies become a problem when renewable energy supplies make up 40% of our total energy use? A) Beyond about 40%, the natural variation will cause the technologies
Describe one positive and one negative effect of rural to urban migration
Why is good soil tilth necessary for good plant growth? A) It increases the sunlight absorbing property of the plant. B) It increases the size of rock particles. C) It increases water holding capacity
¿Qué opinas de la Ley de Promoción de la Alimentación Saludable? ¿Crees que debe prevalecer el derecho a la salud o el derecho a la libertad de elegir? ¿Por qué?
Link Copied!