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3 years ago

1.) how much will $5000 be worth in 5 years if it is compounded continuously at 3% interest.

Mathematics

1 answer:

Nady [450]3 years ago

5 0

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

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Step-by-step explanation:

$\underline{ \underline{ \mathfrak{Let's \: solve}}} :$

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Hope I helped!

Best regards! :D

~ $\sf{TheAnimeGirl}$

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