Help please?? If you deposit $750 in an account that pays 8% annual interest compounded continuously, what will the balance be a

Question

yKpoI14uk [10]

3 years ago

7

Help please?? If you deposit $750 in an account that pays 8% annual interest compounded continuously, what will the balance be a

fter five years?

Mathematics

1 answer:

Stella [2.4K] · Answer 1 · 2021-11-13T12:41:47+03:00

Stella [2.4K]3 years ago

7 0

The formula of a continuous compound interest is
A=p e^rt
A the balance?
P present value 750
E constant
R interest rate 0.08
T time 5 years
A=750×e^(0.08×5)
A=1,118.87