2 years ago

if $5,000,000 isinvested at 4% interest compunded continuously, how much willl the investment be worth in 30 years

1 answer:

8 0

The answer is $16216987.55 (IMPORTANT: This is the answer assuming that the interest rate is annually. The quesiton says 'continuously' so I was a bit confused)

To solve this problem, you can use the compound interest formula.

Here it is once you plug in the numbers: A = 5,000,000 ( 1 + .04) ^30

Just solve the equation to find the solution.

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