How much will $100 grow to if invested at a continuously compounded interest rate of 10% for 8 years?
1 answer:
Answer:
It will grow to $222.55.
Step-by-step explanation:
The formula for continuosly compounded money quantities is:
In which F is the final amount, that is, to how much the money grows, P is the initial deposit, r is the interest rate, as a decimal, and t is the time, in years.
In this problem, we have that:
So
It will grow to $222.55.
You might be interested in
Answer:
The value is
Step-by-step explanation:
From the question we are told that
The number of times is n = 20
The probability of getting three or more heads in a row is
The probability of getting three or more heads in a row or three or more tails in a row is
Generally given that it is a fair coin , then
Here P(T) is probability of getting three or more tails in a row
Generally the probability of getting three or more heads in a row and three or more tails in a row is mathematically represented as
=>
=>