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OpenStudy (anonymous):
Where do i start on this one? I need to show continous compounding....show all work to solve?An initial investment of $1000 is appreciated for 8 years in an account that earns 9% interest, compounded annually. Find the amount of money in the account at the end of the period.
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OpenStudy (anonymous):
A=Pe^rt A=1000e^(.09)(8) A=$2054.43
OpenStudy (anonymous):
multiplying the .09 would be the 9% interest?
OpenStudy (anonymous):
Yes
OpenStudy (anonymous):
cool thanks buddy!
OpenStudy (anonymous):
You're welcome!
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