How much money invested at 7% compounded continuously for 6 years will yield $500?
1 answer:
Answer:
<u>$328.52</u>
Step-by-step explanation:
let p = x, t = 6 years and r = 0.07. now the formula is x*e^0.42 = 500. e^0.42 is approx. 1.522. divide 500 by that to get about <u>$328.52</u>
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