Suppose you invest $7500 at an annual interest rate of 4.2% compounded continuously. How much will you have in the account after
2 years? Round the solution to the nearest dollar. Suppose you invest $500 at an annual interest rate of 7.1% compounded continuously. How much will you have in the account after 4 years? Round the solution to the nearest dollar..
<span>Interest=principle x rate x time (in years)
so putting values so Interest=7500 (.042)(2) so Interest=630
7500+630=8130
Interest=500 (.071)(4)
Interest=142
500+142=64 hope it helps</span>
In 5 years, the price increased about 30%. I am not good at perentages, so correct me if I'm wrong. Also this is an estimation, not the exact percentage.
