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3 years ago

15

Ingrid deposit $10,000 in an IRA what will be the value of her investment six years if the investment earning 3.2% per year and

is compounded continuously

1 answer:

enyata [817]3 years ago

7 0

Answer:

$12116.71

Step-by-step explanation:

Given

Deposit = $10000
Interest rate = 3.2% PA
Interest type = compound
Frequency = continuous
Time = 6 years

Calculation

Total = 10000*e^(rt) = 10000*e^(0.032*6) = $12116.71

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