markbret03 markbret03
  • 26-10-2018
  • Mathematics
contestada

how much would $500 invested at 4% compounded continuously be worth after 7 years

Respuesta :

itsai7376p74zuj
itsai7376p74zuj itsai7376p74zuj
  • 26-10-2018

661.56

To find this, use the equation A = Pe^rt.

A being the final answer, P being principle or initial, r being rate, and t being time.

Set it up as so: A = 500e^.04x7

Once put into the calculator, it should pop out the answer as given above.

Hope this helps!

Answer Link
hctlissai hctlissai
  • 26-10-2018

you will use the formula I=PRT

500*0.04*7=140


after 7 years it will be 640

Answer Link

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