how much would $500 invested at 6% interest compounded continuously be worth after 4 years? round your answer to the nearest cen

Question

3 years ago

15

t

2 answers:

kirill115 [55] · Answer 1 · 2022-02-16T23:58:31+03:00

Answer:

He would worth $ 635.62 ( approx )

Step-by-step explanation:

Since, the amount compounded continuously,

$A=Pe^{rt}$

Where, P is the principal amount,

R is the rate per period,

t is the number of periods,

Here, P = $ 500,

r = 6 % = 0.06,

t = 4 years,

By substituting the values,

The amount after 4 years would be,

$A=500e^{0.06\times 4}$

$=500e^{0.24}$

$=\$635.624575161\approx \$635.62$

Mashcka [7] · Answer 2 · 2022-02-16T21:59:10+03:00

3 0

A=pe^rt
A=500×e^(0.06×4)
A=635.62