Question

Suppose you invest $1700 at an annual interest rate of 8.8% compounded continuously. How much will you have in the account after 7.5 years?

Answer 1

Answer:

after 7.5 years you will have: 3200.11

The total compound interest is 1,447.56.

Step-by-step explanation:

$\frac{8.8}{100} = 0.088\\1700(1+0.088)^{7.5} = 3200.11$

Answer 2

After 7.5 years, you will have $3,200.12