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Brums [2.3K]
4 years ago
15

How much money will be accrued after 3 years if a principal investment of $820 is compounded continuously at 5%?

Mathematics
1 answer:
ludmilkaskok [199]4 years ago
4 0
Total = Principal * e ^ (rate * years)
where "e" is the mathematical constant = 2.718281828459 ...
Total = $820.00 *  2.718281828459 ^ (.05 * 3)
Total = $820.00 * <span> <span> <span> 1.1618342427 </span> </span> </span>
Total = <span> <span> <span> 952.70</span></span></span>

Source:
http://www.1728.org/rate2.htm


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