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OpenStudy (anonymous):
What is the total amount for an investment of $100 invested at 3.5% for 8 years and compounded continuously? $135.44 $132.31 $128.00 $131.68
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OpenStudy (mathstudent55):
Use the formula for continuously compounded interest.
OpenStudy (mathstudent55):
\(F = Pe^{rt} \) F = future value P = present value r = annual interest rate t = time in years You know the last three values. Plug them in and find F.
OpenStudy (anonymous):
Would it be $131.68?
OpenStudy (mathstudent55):
That's not what I got. Write the formula. Rewrite the formula with the values plugged in. Evaluate it.
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