A person invests $3,500 in an account that earns 7.5% interest compounded continuously. What is the value of the investment afte

Question

3 years ago

8

r 4 years?

2 answers:

avanturin [10] · Answer 1 · 2022-03-05T06:23:43+03:00

5 0

I think it's: 4,674.14$

77julia77 [94] · Answer 2 · 2022-03-05T07:43:44+03:00

77julia77 [94]3 years ago

4 0

Answer:

A = $4724.36

Step-by-step explanation:

P = $3500

r = 7.5% = 0.075

t = 4years

n = 365

$A = P(1 + \frac{r}{n})^{nt}\\\\$

$=3500(1 + \frac{0.075}{365})^{365 \times 4}\\\\=3500(1.00020547945)^{365\times4}\\\\= 3500 \times 1.34981720868\\\\= 4724.36023037\\\\= \$ 4724.36$