Ask Question
28 October, 02:14

The value of $1300invested at 4.2% interest compounded continuously for 5 years, 9 months

+5
Answers (1)
  1. 28 October, 02:23
    0
    For continuously compounded interest:

    Amount = Principle * e^ (rate*time)

    A = Pe^ (rt)

    Principle = 1300

    Rate of 4.2% converted to decimal value: r=0.042

    (Move decimal two places)

    Time 5years 9months converted to years: 5.75

    (9 months / 12 months = 0.75)

    Plug in the values,

    Amount = 1300 * e^ (0.042 * 5.75)

    And let your calculator do the rest.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The value of $1300invested at 4.2% interest compounded continuously for 5 years, 9 months ...” 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