If $5,000,000 is invested at 4% interest compound continuously how much will the investment be worth in 30 years
1 answer:
The formula for continuously compounding is 
, where P is the initial investment amount, e is Euler's number, r is the interest rate in decimal form, and t is the time in years. For us that looks like this: 
. Simplifying a bit gives us 
. There is a button on your calculator to find the value of e^1.2. Hit 2nd then ln and you'll see "e^ " on your display. Enter 1.2 and hit "enter" to get that e^1.2 is equal to 3.320116923. Now multiply that by your P value of 5 million to get A(t) = $16,600,584.62
You might be interested in
Answer:
Step-by-step explanation:
Answer:
For this case we want to conduct a test in order to see if the proportion of Clemson students who eat breakfast is different from 0.44 (alternative hypothesis). And the complement would represent the null hypothesis, and the system of hypothesis for this case are:
Null Hypothesis:
Alternative hypothesis:
Step-by-step explanation:
Previous concepts
A hypothesis is defined as "a speculation or theory based on insufficient evidence that lends itself to further testing and experimentation. With further testing, a hypothesis can usually be proven true or false".
The null hypothesis is defined as "a hypothesis that says there is no statistical significance between the two variables in the hypothesis. It is the hypothesis that the researcher is trying to disprove".
The alternative hypothesis is "just the inverse, or opposite, of the null hypothesis. It is the hypothesis that researcher is trying to prove".
Solution to the problem
For this case we want to conduct a test in order to see if the proportion of Clemson students who eat breakfast is different from 0.44 (alternative hypothesis). And the complement would represent the null hypothesis, and the system of hypothesis for this case are:
Null Hypothesis:
Alternative hypothesis: