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e-lub [12.9K]
3 years ago
15

If you put $1,500 in a savings account that pays 4% interest compounded continuously, how much money will you have in your accou

nt in 5 years? Assume you make no additional deposits or withdrawals.
Mathematics
1 answer:
Ymorist [56]3 years ago
4 0
For investments with continuous compounding, the formula to use is

F = Pe^(rn)

where F is the future worth, P is the present worth, r is the interest rate, and n is the number of years.

F = ($1500)e^(0.04*5)
F = $1832.1

In 5 years, your account would have $1832.1.
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Answer:

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Step-by-step explanation:

0) the basic formula is: L=v*t, where L - distance, v - speed/velocity; t - time;

1) if the person's speed in still water is 'v' and the speed of water is 5 (according to the condition), then the upstream speed is 'v-5' and the downstream speed is 'v+5';

2) according to the condition the upstream time and the downstream time are the same, it means t₁=t₂=t, where t₁=upstream time and t₂=downstream time;

3) according to the items above it is possible to make up the equation of the upstream travel: t(v-5)=3; ⇒ t=3/(v-5);

4) according to the items above it is possible to make up the equation of the downstream travel: t(v+5)=13; ⇒ t=13/(v+5);

5) if t=3/(v-5) and t=13/(v+5), then

\frac{3}{v-5} =\frac{13}{v+5}; \ => \ v=8.

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Step-by-step explanation:

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Answer:

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Step-by-step explanation:

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