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3 years ago

Edgar accumulated $3,000 in credit card debt. If the interest rate is 50% per year and he does not make any payments for

Mathematics

1 answer:

Anestetic [448]3 years ago

8 0

Answer:

$7,459.12

Step-by-step explanation:

The formula for continuous compounding is

A = Pe^(rt), where P is the original amount, A is the accumulated amount, r is the interest rate as a decimal fraction, and t is the number of years. We want to know how much he will owe on this original $5,000 credit card debt after 2 years.

A = $5,000e^(0.20*2)

= $7,459.12

Step-by-step explanation:

The formula for continuous compounding is

A = $5,000e^(0.20*2)

= $7,459.12

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2 years ago

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3 years ago

Read 2 more answers

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BaLLatris [955]

Answer:

PQ = 3.2

Step-by-step explanation:

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3 years ago