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?

Question

ganeshie8 · Answer

use the continuous componding formula :

$\huge A = Pe^{r*t} $

ganeshie8 · Answer

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

ganeshie8 · Answer

can you give a try plugging in the numbers in formula

anonymous · Answer

A = 535?

anonymous · Answer

A=4eln(2)8

Yes 1024

GJ

ganeshie8 · Answer

nopes.

A is the thing we need to find out !

ganeshie8 · Answer

535 is the initial invested money
so,
P = 535

anonymous · Answer

A= 535 e^(.06*10)

ganeshie8 · Answer

r  = 6% = 0.06
t = 10 years = 10

plugin these values in the formula and try solving... .

ganeshie8 · Answer

thats right! @Snapbacklive  has it !!

anonymous · Answer

yup

anonymous · Answer

oh

anonymous · Answer

I can't figure it out

dumbcow · Answer

P = 535
r = 6% = 0.06
t = 10

--> A = 535*e^(.6)