At a raffle, 1000 tickets are sold for $5 each. There are 20 prizes of $25, 5 prizes of $100, and 1 grand prize of $2000. Suppos
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Total = Principal * e^(rate*years)
Total = 4,500 * 2.718281828459^(.02*4)
Total = 4,500 * 2.718281828459^(.08)
Total = 4,500 * <span> <span> </span></span> <span> <span> <span> 1.0832870677 </span> </span> </span>
Total = <span> <span> <span> 4,874.79 </span> </span> </span>
calculator for checking the answer:
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Total = 4,500 * 2.718281828459^(.02*4)
Total = 4,500 * 2.718281828459^(.08)
Total = 4,500 * <span> <span> </span></span> <span> <span> <span> 1.0832870677 </span> </span> </span>
Total = <span> <span> <span> 4,874.79 </span> </span> </span>
calculator for checking the answer:
http://www.1728.org/compint.htm