Larry invests $7,000 in an account that earns 6% interest compounded continuously. How much will Larry
2 answers:
Answer:
9940
Step-by-step explanation:
its easy please give brainlist
Answer:
~10525.41 after 7 years
Step-by-step explanation:
y=a(1+r)^x
That's the equation for exponential growth
a= the starting amount
r= the rate at which it is growing
x=years
with that information
a=7000
r=6% or 0.06
so y=7000(1+0.06)^x -> y=7000(1.06)^x
x=7
y=7000(1.06)^7
y~10525.41
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