Register
Gabby accumulated $12,000 in credit card debt. If the interest rate is 4% per year and she does not make any payments for 8 years, how much will she owe on this debt in 8 years by compounding continuously?
169k views
0 votes
Gabby accumulated $12,000 in credit card debt. If the interest rate is 4% per year and she does not make any payments for 8 years, how much will she owe on this debt in 8 years by compounding continuously?

User Sanmi
by
5.9k points

1 Answer

7 votes

Answer:

$16,525.53.

Explanation:

A=Pe^rt

P=$12,000

r=0.04

t=8 years

User M Fuat
by
5.8k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.9m questions

7.8m answers

Other Questions

Solve for y in terms of x. 2/3y - 4 = x y = x + 6 y = -x + 4 y = -x + 6 y = x + 4
Aliyah has $24 to spend on seven pencils. After buying them she had $10. How much did each pencil cost?
Ten gallons of paint were poured into two containers of different sizes. Use one variable to express the amount poured into each container
Use the normal model ​n(11371137​,9696​) for the weights of steers. ​a) what weight represents the 3737thth ​percentile? ​b) what weight represents the 9999thth ​percentile? ​c) what's the iqr of the weights
Evaluate a + b when a = –16.2 and b = –11.4 A. –27.6 B. –4.8 C. 4.8 D. 27.6
Link Copied!