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OpenStudy (anonymous):
if $5,000,000 is invested at 4% interest compounded continuously , how much will the investment be worth in 30 years?
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OpenStudy (anonymous):
compounded continuously? yearly, monthly, daily, hourly? what is the compound frequency?
OpenStudy (anonymous):
sorry im not sure that is why i need help.
hero (hero):
It is continuous
hero (hero):
\[A = Pe^{rt}\]
hero (hero):
A=Account Balance P=Principal r=rate (decimal form) t=time (in years)
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hero (hero):
\[A = 5,000,000e^{(.04)(30)}\]
hero (hero):
A = $16,600,584.61
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