For continuous interest,
Future value = Pe^(rt)
P=present value = $500
e=napien constant=2.7182818284
t=time in years = 8 years
r=annual interest = 0.05
Future value
=500(e^(0.05*8))
=500e^0.4
=745.91 (to the nearest cent)
Answer:
11
Step-by-step explanation:
Answer:
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Step-by-step explanation: