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

my answer is $973.38

Answer 2

F = Pe^rt = 535e^(0.06*18) = $1575.40

Answer 3

thank you!!!!!!!! you ROCK

Answer 4

lol np:)

Answer 5

wait, would i do that x ten though?

Answer 6

my options:
$1307.12

$974.83

$973.38

$403.43

Answer 7

ummm... well if u did X ten what would u get?

Answer 8

oohh waait....

Answer 9

it would have to be a lower number, given the answer choices

Answer 10

yea.. actually i think its $973.38..

Answer 11

perhaps. thank you:)

Answer 12

Since the compounding is continuous, the base must e.
A=Pert, so A = 535e (.06)(10)
which is $974.83 :)

Answer 13

thank you!!!!!!!!!!

Answer 14

your welcome:)