If $190 is invested at an interest rate of 11% per year and is compounded continuously, how much will the investment be worth in
1 answer:
Answer:
$295.01
Step-by-step explanation:
Using the compounding continuously formula, we are looking for A. We have that P = 190; r = .11 (always use the decimal form of the rate!); and t = 4. Filling in we have:
Simplifying that multiplication:
.
On your calculator, raise e to the .44 power to get
A = 190(1.552707219) and
A = $295.01
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Answer
Find out the percent error in Annie's estimate .
To prove
Formula
As error = approx value - exact value
As given
Annie estimates that the height of a bookcase is 78.25 in.
The actual height is 75.50 in.
approx value = 78.25 in.
actual value = 75.50 in.
error = 78 .25 - 75 .50
= 2.75
put in the formula
Percentage error = 3.64 % (approx)
Therefore the Percentage error be 3.64 % (approx).