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OpenStudy (anonymous):
Suppose $500 is deposited into an account paying interest at a rate of 7%, continuously compounded. Find a formula for the value of the account at time t. What is the value of the account after 3 years?
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OpenStudy (anonymous):
compounded pay twice a years A= 500(1+0.07/2)^(2*3)
OpenStudy (anonymous):
$614.28 If I deserve medal then give me one.
OpenStudy (dumbcow):
It is being compounded continuously B = 500*e^.07*3 B = 500*e^.21 B = 616.84
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