It has been a while since I had done these, but I believe you need to multiply all the measurements together
We have been given that a person places $6340 in an investment account earning an annual rate of 8.4%, compounded continuously. We are asked to find amount of money in the account after 2 years.
We will use continuous compounding formula to solve our given problem as:
, where
A = Final amount after t years,
P = Principal initially invested,
e = base of a natural logarithm,
r = Rate of interest in decimal form.
Upon substituting our given values in above formula, we will get:
Upon rounding to nearest cent, we will get:
Therefore, an amount of $7499.82 will be in account after 2 years.
A
Because 0.8 is equaled to 8/10 which is greater than all
49/25 converted into decimal form is
1.96
Hope this helps!
Answer:
1000=450 (1+ 0.06) y
4
Step-by-step explanation:
In the paranthesis where it says 0.06 and then 4 at the bottom its supposed to be a fraction btw
