Answer: 160m
Explanation: I hope this helps <3
Answer:
$5809.17
$6149.01
$2211.72
Step-by-step explanation:
Continous interest formula:
(pv)e^(rt)
we have
5000e^(5*.03)= 5809.17
Same equation from before
2500e^(.09*10)= 6149.01
2000e^(.0575*(21/12))
(we write 21/12 because that's how many years has passed)
= 2211.72
Hmm...I tried to divide 29 by 14, and I got 2.07142857143.... Does it let you round the decimal..?
Answer:
Step-by-step explanation:
Using the formula for the growth of investment:
.....[1]
where,
A is the amount after t year
P is the Principal
r is the growth rate in decimal
As per the statement:
Scott invests $1000 at a bank that offers 6% compounded annually.
⇒P = $1000 and r = 6% = 0.06
substitute these in [1] we get;
⇒
Therefore, an equation to model the growth of the investment is,
