Hannah invested $820 in an account paying an interest rate of 1.8% compounded continuously. Assuming no deposits or withdrawals
2 answers:
Answer:
$1,093.67 = $1,100 rounded to th next $100
Step-by-step explanation:
Final investment value
$1,093.67
Total interest earned
$273.67
Initial balance
$820.00
Total monthly deposits
$0.00
Effective Annual Rate (APY)
1.816%
The formula used in the compound interest calculator is A = P(1+r/n)^(nt)
A = the future value of the investment
P = the principal investment amount
r = the interest rate (decimal)
n = the number of times that interest is compounded per period
t = the number of periods the money is invested for
You might be interested in