Question

how much would $300 invested at 7% interest compounded continuously be worth after 4 years? round your answer to the nearest cent

Answer 1

A\ =\ P_oe^{rt}]


This is just an arithmetic problem, albeit one that you need to do on your calculator. *[tex \LARGE P_o\ =\ 300], *[tex \LARGE e] is the base of the natural logs, so raising *[tex \LARGE e] to a power on the built-in Windows or Mac calculators is the inverse of taking the natural log, *[tex \LARGE r\ =\ 0.07], and *[tex \LARGE t\ =\ 4]


John
*[tex \LARGE e^{i\pi}\ +\ 1\ =\ 0]
My calculator said it, I believe it, that settles it

Answer 2

7% of 300 = 21
7% of 321 = 22.47
7% of 343.47 = 24.04
7% of 367.51 = 25.72
$393.23 (or somewhere close to it, since I rounded it every time)