3 years ago

Does ANYONE know the answers to these questions would really be a big help with my grades!! :)

Mathematics

1 answer:

aliya0001 [1]3 years ago

5 0

The first and third question are both the second choice, what would be b. The second question seems impossible...

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how much would 600 invested at 8% interest compounded continuously be worth after 3 years? round your answer to the nearest cent

marysya [2.9K]

$\bf ~~~~~~ \textit{Continuously Compounding Interest Earned Amount}\\\\
A=Pe^{rt}\qquad 
\begin{cases}
A=\textit{accumulated amount}\\
P=\textit{original amount deposited}\to& \$600\\
r=rate\to 8\%\to \frac{8}{100}\to &0.08\\
t=years\to &3
\end{cases}
\\\\\\
A=600e^{0.08\cdot 3}\implies A=600e^{0.24}$