3 years ago

I cant figure this out.

Mathematics

1 answer:

olganol [36]3 years ago

7 0

Answer:

$1271.25

Step-by-step explanation:

Since it's continuously compounded, the 2nd formula is most appropriate.

A=Pe^rt

P = initial investment = $1000

r = rate of increase = 8% = 0.08

t = time interval in years = 3

If you put in hlthe information you should have:

A = 1000•e^(0.08)(3) = $1271.25

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