What is the total amount for an investment of $1,250 invested at 9.6% for 12 years and compounded continuously? ≈ $5006.50 ≈ $61

Question

Salsk061 [2.6K]

2 years ago

8

What is the total amount for an investment of $1,250 invested at 9.6% for 12 years and compounded continuously? ≈ $5006.50 ≈ $61

25.25 ≈ $4062.65 ≈ $3955.64

Mathematics

1 answer:

Taya2010 [7] · Answer 1 · 2022-07-27T19:52:40+03:00

Taya2010 [7]2 years ago

6 0

The formula of a continuous compound interest is
A=p e^rt
A future value?
P present value 1250
E constant
R interest rate 0.096
T time 12 years
A=1,250×e^(0.096×12)
A=3,955.64