So your present value is 7750. this is what you have now. they give you the intesrest rate which is 4% and how the amount of year is 5.
recall the formula for a compounded continously is
P×e^(r×t)
the answer is 7750×e^(.04×5)
Solve the parenthesis firt.
17-9 = 8
3*2 = 6 now multiply 6 by 8 that equals 48
now divide 48 by 2
48÷2= 24
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If it's adding to the 4,900 in the bank just add the numbers to 4,900.
After 4 years. 1,176.
Year 1: 294
Year 2: 588
Year 3: 882
Year 4: 1176
Year 5: 1470
Year 6: 1764
Answer:
False, True, True are thr answers
