Register
Ingrid deposit $10,000 in an IRA what will be the value of her investment six years if the investment earning 3.2% per year and is compounded continuously
206k views
5 votes
Ingrid deposit $10,000 in an IRA what will be the value of her investment six years if the investment earning 3.2% per year and is compounded continuously

User Miguel Marques
by
7.6k points

2 Answers

0 votes

Answer:12116.71

Explanation:

User Jakob Olsen
by
8.8k points
5 votes

Answer:

  • $12116.71

Explanation:

Given

  • Deposit = $10000
  • Interest rate = 3.2% PA
  • Interest type = compound
  • Frequency = continuous
  • Time = 6 years

Calculation

  • Total = 10000*e^(rt) = 10000*e^(0.032*6) = $12116.71
User Shevon
by
7.8k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Link Copied!