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OpenStudy (anonymous):
You invest $700 in an account that pays an interest rate of 6.5%, compounded continuously. calculate the balance of your account after 20 years. round your answer to the nearest hundredth.
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OpenStudy (anonymous):
i got 26817.560
OpenStudy (anonymous):
did you use PERT?
OpenStudy (anonymous):
whats that?
OpenStudy (anonymous):
A=Pe^rt A= 700 e^(.065)(20years) = the answer
OpenStudy (anonymous):
instead of .065 i did .65
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OpenStudy (anonymous):
is the answer 14940.226?
OpenStudy (anonymous):
I dont have a calculator but you must use .065
OpenStudy (anonymous):
it said that it was wrong & i did what you said & got 14940.226
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