Help me please!!!!!!!
1 answer:
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Answer:
$133,728 would be in the count after 12 hours.
Step-by-step explanation:
Continuous compounding:
The amount of money, in continuous compounding, after t years, is given by:
In which P(0) is the initial deposit and r is the interest rate, as a decimal.
Isaac invested $77,000 in an account paying interest rate of 4.6% compounded continuously.
This means that
Assuming no deposits or withdrawals are made, how much money, to the nearest cent, would be the count after 12 years?
This is P(12). So
$133,728 would be in the count after 12 hours.