The amount of money Justin would have in his account than Aaron, to the nearest dollar is $0
What is the future value formula for continuous compounding cash flow?
The future value, which is used to determine the worth of this investment of $740 made now in 18 years is as shown below:
FV=PV*e^(rt)
FV=the worth of the investment in 18 years=unknown
PV=the amount invested today=$740
e=mathematical exponential value=2.7182818
r=rate of interest which compounded continuously=5%
t=time of investment in years=18
FV=$740*2.7182818^(5%*18)
FV=$740*2.7182818^(0.90)
FV=$740*2.459603087981220
FV=$1,820.11
Justin:
FV=PV*(1+r/m)^(n*m)
PV=$740
r=5%
m=number of times in a year that interest is compounded=365
m=number of years=18
FV=$740*(1+5%/365)^(18*365)
FV=$1,819.99
difference=$1,820.11-$1,819.99
difference=$0.12($0 to the nearest dollar)
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Do (7x3)=21x7=147 so that’s how you do it hope it helps
95
Step-by-step explanation:
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Answer:
B 9/10
Step-by-step explanation:
1/5 is equivalent to 2/10.
then just add the numerators.
Answer:
You use the total amount divided by the time.
The answer is 30/8, or 15/4
Step-by-step explanation:
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