You invest $700 in an account that pays an interest rate of 6.5%, compounded continuously.
2 answers:
To find how much you are earning for interest, do 7 x 6.5
Since 6.5 is 6.5% of 100. 7 x 6.5 = 45.5
This means that from 6.5% of $700 is $45.50.
Please include the instructions when you post a question. Thanks.
Use the formula A = P*e^(rt).
Here, A = $700*e^(0.065*t), where t is the # of years (which you have not yet included in your post).
As an example: After 2 years you'll have A = $700*e^(0.065*2), or A=$797.18, in your account.
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