How much is 400.00 invested at 9% interest compounded continuously be worth after 3 years

1 answer:

5 0

COMPOUNDED
not simple interest,
compound interest is neat since you earn interest on the interest you earned

ok so what you use is F=Pe^(rt)
F=future or ending amount
P=present amount
e=base of the natural log (some digits are 2.71828182845)
r=rate in decimal
t=time in years

presen amount is 400
rate is 9% or 0.09
time is 3 years

F=400e^(0.09*3)
F=400e^(0.27)
F=523.986
round
F=523.99

You might be interested in

What is the value of x enter your answer in the Box

Dimas [21]

61.4 is the value of x

7 0

3 years ago

Given a = -3, b = 4 and c = -5, evaluate a - b - c. -12 -6 -2

KiRa [710]

A - B - C =
-3 - 4 + 5 =
-7 + 5 =
-2

negative three minus four plus five is negative two
welcome :/

4 0

3 years ago

A colleague has been tutoring six students in 11th grade to prepare for the ACT. This colleague has asked you to evaluate the pe

marissa [1.9K]

We have been given that a colleague has been tutoring six students in 11th grade to prepare for the ACT. Student scores were as follows: 20, 18, 16, 15, 23, 20. We are asked to find the mean of the ACT scores.

We will use mean formula to solve our given problem.

$\text{Mean}=\frac{\text{Sum of terms}}{\text{Number of terms}}$