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Lady bird [3.3K]
3 years ago
11

If $1,120 is invested at an interest rate of 15% per year and is compounded contonuously, how much will the investment be worth

in 7 years? Use the continuous compound interest formula: A=Pr^rt.​
Mathematics
2 answers:
frutty [35]3 years ago
4 0

Answer:3,200.57

Step-by-step explanation:

Luden [163]3 years ago
3 0

Answer:

\$3,200.57  

Step-by-step explanation:

we know that

The formula to calculate continuously compounded interest is equal to

A=P(e)^{rt}  

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  

t=7\ years\\ P=\$1,120\\ r=0.15  

substitute in the formula above  

A=\$1,120(e)^{0.15*7}=\$3,200.57  

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Answer:

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Step-by-step explanation:

I feel if you divide $14.00 by 10 you would get 1.40, so  I say this should be the right answer.

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3 0
3 years ago
Read 2 more answers
Nora got an allowance of 50¢ each weekday and 75¢ each weekend altogether how much do they get in:
Furkat [3]
A) > since it is 50c per weekday and 75c each weekend assuming it allows for the 2 days each saturday/sunday.
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b) For 3 school days we know it is a weekday on the school week.
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e) We have 1 day of the weekend and 2 weekdays here.
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