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raketka [301]
3 years ago
8

Suppose you deposit $1000 in an account paying 4% annual interest, compounded continuously. Find the balance after 10 years.

Mathematics
2 answers:
Norma-Jean [14]3 years ago
8 0
The balance after 10 years would be $1400
kolbaska11 [484]3 years ago
5 0

Answer:

400

Step-by-step explanation:

To find 4% of $1000 you have to multiply them and then divide them by 100.

4 x 1000/100

4,000/100 = 40

Every year, you would get 40 dollars, so for 10 years you multiply 10 x 40.

10 x 40 = 400

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inn [45]

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