We have been given that a person places $6340 in an investment account earning an annual rate of 8.4%, compounded continuously. We are asked to find amount of money in the account after 2 years.
We will use continuous compounding formula to solve our given problem as:
, where
A = Final amount after t years,
P = Principal initially invested,
e = base of a natural logarithm,
r = Rate of interest in decimal form.
Upon substituting our given values in above formula, we will get:
Upon rounding to nearest cent, we will get:
Therefore, an amount of $7499.82 will be in account after 2 years.
A! You need to multiply all the numbers together
Answer:
Step-by-step explanation:
<u>Decrease in number:</u>
<u>Percent decrease:</u>
- 2/12*100% = 16.67% rounded
Answer:
<u>12.2</u>
Step-by-step explanation:
100 - 20% = 80%, 80% - 5 = -42, -42 - 8 = <u>-12.2</u>