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Sonja [21]
3 years ago
14

Suppose you invest $950 at an annual interest rate of 6.5% compounded continuously. How much will you have in the account after

10 years? Round the solution to the nearest dollar
Mathematics
1 answer:
UNO [17]3 years ago
7 0
Present value, P = 950
interest rate, i = 6.5% continuous
Number of periods, n = 10 years

Future value
F=Pe^{it}
=950e^{.065*10}
=1819.76   to the nearest cent
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