Question

If $535 is invested at an interest rate of 6% per year and is compounded continuously, how much will the investment be worth in 10 years?

Answer 1

use the continuous componding formula :

\(\huge A = Pe^{r*t} \)

Answer 2

P = invested money
r = interest rate
t = time in years
A = final money

Answer 3

can you give a try plugging in the numbers in formula

Answer 4

A = 535?

Answer 5

A=4eln(2)8

Yes 1024

GJ

Answer 6

nopes.

A is the thing we need to find out !

Answer 7

535 is the initial invested money
so,
P = 535

Answer 8

A= 535 e^(.06*10)

Answer 9

r = 6% = 0.06
t = 10 years = 10

plugin these values in the formula and try solving... .

Answer 10

thats right! @Snapbacklive has it !!

Answer 11

yup

Answer 12

oh

Answer 13

I can't figure it out

Answer 14

P = 535
r = 6% = 0.06
t = 10

--> A = 535*e^(.6)