If you invest $7,500 in an account paying 5.35% compounded continuously, how much money will be in there the end of 5.5 years?

Question

anonymous · Answer

Is this multiple choice?

anonymous · Answer

I believe it should be 9,706.875

anonymous · Answer

i got something different like $5588.18

amistre64 · Answer

you got something less than what you started with

amistre64 · Answer

Pert ...$$A=Pe^{rt}$$

amistre64 · Answer

anonymous · Answer

$$7500=Pe ^{(0.0535)(5.5)}$$

amistre64 · Answer

it says you invest 7500, and asks how much you have after time passes.

amistre64 · Answer

what you have there is, after so much time, you want 7500 in the account, how much would you have to seed it with

anonymous · Answer

so i should put 7500 in for P

anonymous · Answer

how would you do this question? Suppose $2,500 is invested at 4% compounded quarterly. how much money will be in the account in 3/4 years?