If you invest $600 at 5% interest compounded continuously, how much would you make after 6 years?
2 answers:
Answer:
$809.92
Step-by-step explanation:
(see attached for reference)
Recall that the formula for compound interest (compounded continuously) is
A = P e^(rt)
where,
A = final amount (we are asked to find this)
P = principal = given as $600
r = interest rate = 5% = 0.05
t = time = 6 years
e = 2.71828 (mathematical constant)
Substituting the known values into the equation:
A = P e^(rt)
= 600 e^(0.05 x 6)
= 600 (2.71828)^(0.30)
= $809.92
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Answer:
Step-by-step explanation:
Since, here the length of the rectangle is represented by the function l(x) = x + 24,
While the breadth of the rectangle is represented by the function w(x) = x + 16.
And, we know that the area of the rectangle = length of the rectangle l(x) × breadth of the rectangle.
a(x) = l(x) × w(x)
a(x) = (x + 24) × (x + 16)