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spin [16.1K]
2 years ago
7

You deposit $500 into an account that pays 4.25% annual interest compounded continuously. What is the balance after 10 years?

Mathematics
1 answer:
scZoUnD [109]2 years ago
6 0

~~~~~~ \textit{Continuously Compounding Interest Earned Amount} \\\\ A=Pe^{rt}\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill & \$500\\ r=rate\to 4.25\%\to \frac{4.25}{100}\dotfill &0.0425\\ t=years\dotfill &10 \end{cases} \\\\\\ A=500e^{0.0425\cdot 10}\implies A=500e^{0.425}\implies A\approx 764.80

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Step-by-step explanation:

Format: y=mx+b

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subtract 4 both sides

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When n is small (less than 30), how does the shape of the t distribution compare to the normal distribution?
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When n is small (less than 30), how does the shape of the t distribution compare to the normal distribution then"it is flatter and wider than the normal distribution."

<h3>What is normal distribution?</h3>

The normal distribution explains a symmetrical plot of data around the mean value, with the standard deviation defining the width of the curve. It is represented graphically as "bell curve."

Some key features regarding the normal distribution are-

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brainly.com/question/23418254

#SPJ4

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Answer:

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Step-by-step explanation:

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