Stan borrows $5,500 at a rate of 12% interest per year. What is the amount due at the end of 5 years if the interest is compounded continuously?

In your final answer, include your calculations. Show all of your work.

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15 August, 22:06

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Audrina Foster · Answer 1

5500 * 0.12 = 660

660 * 5 = 3300

3300 + 5500 = 8800

8800 is due at the end of 5 years

Stan borrows $5,500 at a rate of 12% interest per year. What is the amount due at the end of 5 years if the interest is compounded continuously?In your final answer, include your calculations. Show all of your work.