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.
X is basically a variable. Now the thing is, that variables do not have a definite value, and that they can have an infinite range of values. While solving an equation in algebra, you don't know what your answer is going to be therefore, the answer could be infinite! :)
Answer:
n = 4
Step-by-step explanation:
3 = 2 + n/4
1 = n/4
4 = n
