Ask Question
7 May, 22:10

Suppose you invest $2500 at an annual interest rate of 3% compounded continuously. How much will you have in the account after 7 years? Round the solution to the nearest dollar.

+3
Answers (1)
  1. 7 May, 22:17
    0
    P = $2500, n = 7, r = 3% = 0.03

    F = P / (1 + r) ^t

    F = $2500 * 1.03^ (7) = $2500 * 1.22987 = $3074.68 = $3075
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Suppose you invest $2500 at an annual interest rate of 3% compounded continuously. How much will you have in the account after 7 years? ...” 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