If $1,120 is invested at an interest rate of 15% per year and is compounded contonuously, how much will the investment be worth
2 answers:
Answer:
Step-by-step explanation:
we know that
The formula to calculate continuously compounded interest is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
e is the mathematical constant number
we have
substitute in the formula above
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Solution:
As we have to write an expression , which evaluates to true if the value of the integer variable x is divisible (with no remainder) by the integer variable y, y≠0.
so, when x is divided by y we should get remainder as 0.
Using Euclid division lemma
x= y* q + m, i.e when an integer x is divided by y gives quotient q and remainder m.
Here , m=0
So, x = q * y
So, the expression which describes the above relationship is ,
, where q is Quotient.