How much would $300 invested at 7% interest compounded continuously be worth after 4 years? Round your answer to the nearest cen

Question

rodikova [14]

4 years ago

9

How much would $300 invested at 7% interest compounded continuously be worth after 4 years? Round your answer to the nearest cen

t.

Mathematics

2 answers:

Brrunno [24] · Answer 1 · 2022-01-21T16:25:13+03:00

Brrunno [24]4 years ago

8 0

Answer:$396.93

Step-by-step explanation:

olganol [36] · Answer 2 · 2022-01-21T15:04:14+03:00

olganol [36]4 years ago

7 0

Hi there

The formula of compounded continuously is
A=pe^rt
A future value?
P present value 300
R interest rate 0.07
T time 4 years
E constant

So
A=300×e^(0.07×4)
A=396.9 round your answer to get
A=397

Good luck!