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If $20,000 is invested in an account that compounds interest at 3.5% CONTINUOUSLY, how much money is in the account after 10 years?

If $20,000 is invested in an account that compounds interest at 3.5% CONTINUOUSLY, how much money is in the account after 10 years?
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If $20,000 is invested in an account that compounds interest at 3.5% CONTINUOUSLY, how much money is in the account after 10 years?

User Uiroshan
by
8.1k points

1 Answer

5 votes

Answer:

The final balance is $28,366.91.

So a gain of 8366.91

Explanation:

User BateTech
by
8.1k points
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