Question

Suppose you invest $500 at an annual interest rate of 7.1% compounded continuously. How much will you have in the account after 4 years? Round the solution to the nearest dollar.

Answer 1

http://www.youtube.com/watch?v=SNoPFiFHkbA

Answer 2

use this formula....FV=PV(1+r/n)^nt

Answer 3

asib1214 that formula works if it's not compounded continuously but say compounded quarterly

Answer 4

instead, you use this formula

A = Pe^(rt)

in this case

P = 500
r = 0.071
t = 4

Answer 5

if it is quarterly... just plugin 3...which is 1/4 of 12...months..

Answer 6

do you want me to do the question????

Answer 7

wait....