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Continuous Compounding. 25 points, please help.
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Continuous Compounding. 25 points, please help.

Continuous Compounding. 25 points, please help.-example-1
User Immortal
by
6.7k points

1 Answer

3 votes

Answer:

5) $5005

7) $7737

Explanation:

Continuously compounded interest:


A = Pe^(rt)

5)


9119.7 = Pe^(0.04 * 15)


9119.7 = P(1.8221188)


P = 5005

Answer: $5005

7)


29844.9 = Pe^(0.09 * 15)


29844.9 = P(3.8574255)


P = 7737

Answer: $7737

User Valdas
by
7.7k points
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