Question

How much money invested at 5% compounded continuously for 3 years will yield $820?
Answers
a. $952.70
b. $818.84
c. $780.01
d. $705.78

i got A... is that right?

Answer 1

@hartnn am I right on this one?

Answer 2

no...what formula did you use ?

Answer 3

use,
\( \large A = P (1+r/100)^n \)
A = 820
n=3
r=5

Answer 4

find P

Answer 5

i used

Answer 6

no no, compound interest formula is
\(\large A = P (1+r/100)^n\)

Answer 7

oh okay so then i got like 3,3903.0 and thats not right

Answer 8

?? how ?
i am getting an answer which is in the choices...calculate again ?

Answer 9

A = 820
n=3
r=5
find P

Answer 10

1+r/100 = 1+5/100 = 1.05