Connor invested $77,000 in an account paying an interest rate of 4.5% compounded
2 answers:
Answer:
There would be $118,580 but to the nearest hundred there would be $118,600.
Step-by-step explanation:
The answer is 118,600 because 4.5% of 77,000 is 3465 and 3465 multiplied by 12 is 41580 and 77,000 plus 41580 is 118,580 but rounded to the nearest hundred it would be 118,600.
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Answer:
this answer is actually correct. the answer is 132100.
Step-by-step explanation:
Compounded Continuously:
A=Pe^{rt}
A=Pe
rt
P=77000 r=0.045 t=12
Given values
A=77000e^{0.045(12)}
A=77000e
0.045(12)
Plug in
A=77000e^{0.54}
A=77000e
0.54
Multiply
A=132132.528388
A=132132.528388
Use calculator (with e button)
A= aprroximatley 132100
A≈132100
Round to nearest hundred dollars
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Step-by-step explanation:
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Step-by-step explanation:
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