Ask Question
19 October, 18:50

How much would $300 invested at 7% interest compounded continuously be worth after 4 years? Round your answer to the nearest cent.

+5
Answers (1)
  1. 19 October, 19:02
    0
    Hi there

    The formula of compounded continuously is

    A=pe^rt

    A future value?

    P present value 300

    R interest rate 0.07

    T time 4 years

    E constant

    So

    A=300*e^ (0.07*4)

    A=396.9 round your answer to get

    A=397

    Good luck!
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “How much would $300 invested at 7% interest compounded continuously be worth after 4 years? Round your answer to the nearest cent. ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers