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sineoko [7]
2 years ago
10

Klaus invested $8,000 in a savings account. if the interest rate is 3.45%, how much will be in the account in 15 years by compou

nding continuously? round to the nearest cent.
Business
1 answer:
Marta_Voda [28]2 years ago
4 0

$13,422.62 will be in the account in 15 years by compounding continuously.

<h3>Compound interest rate</h3>

Formula: FV =PV * e^(i*t),

where FV =Future value,

PV=Present Value,

e =Euler’s number,

i =nominal rate per year,

t =Number of years.

Answer:

$13,422.62

that is why

FV =PV * e^(i*t),

A=?

P=$8,000

r=0.0435

t=15 years

A=8,000e0.0345*15

To learn more about Compound interest rate  visit the link

brainly.com/question/14540021

#SPJ4

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The law of demand is a fundamental principle of the economic idea of higher price leads to a lower quantity demanded and that a lower price leads to a higher quantity demanded.

The  rule of demand, if all other variables remain constant, the price and quantity desired of any good or service are inversely related. When the price of a product rises, the demand for that product low as well.

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