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OpenStudy (vera_ewing):
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? $1307.12 $974.83 $973.38 $403.43
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OpenStudy (vera_ewing):
What does "compounded" mean?
OpenStudy (anonymous):
make up (a composite whole); constitute.
hero (hero):
The formula for compound interest is \[A = Pe^{rt}\] Where P is the principal, r is the rate (in decimal form) and t is the time in years.
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