How much would $600 invested at 8% interest compounded continuously be worth after 3 years. round your answer to the nearest cen

Question

3 years ago

6

t. A(t) = P×e^ rt

1 answer:

stepladder [879] · Answer 1 · 2022-12-23T11:22:00+03:00

The amount $600 would be after 3 years at 8% interest compounded continuously is $755.83

<h3>How to calculate compound interest?</h3>

Compound interest are amount of money added on amiunt invested.

Given the following parameters

P = $600
r = 8% = 0.08
t = 3 years

Using the compound interest formula

A(t) = Ao(1+r)^t
A(t) = 600(1.08)^3
A(3) = $755.83

Hence the $600 would amount to after 3 years at 8% interest compounded continuously is $755.83

Learn more on compound interest here: brainly.com/question/24924853