abi70713 abi70713
  • 09-01-2018
  • Mathematics
contestada

You invest $3,000 in an account with an interest rate of 5.5% compounded continuously. How much money would be in the account after 5 years? Round your answer to the nearest whole number.

Respuesta :

altavistard
altavistard altavistard
  • 14-01-2018
Use the compound amount formula for continuous compounding:

A = Pe^(rt)

Here,

A = $3000e^(0.055^5) = $3950 (rounded up from $3949.59)

Answer Link

Otras preguntas

Choose the one which fits grammatically into the sentence: Je veux que vous [mangiez] ce repas. (A) regardez (B) vendez (C) prépariez (D) digérez Marc a vu cet
Write 357 over 10000 as a decimal
The breeze during a sunny day at the beach is usually a result of _________________________________________.
describe Jays treaty, the pinckney treaty and the treaty of ghent.
What does the term "star-cross'd lovers" suggest?
What events were held at the globe theatre?
why did many vikiings turn to the sea to make a living ?
In how many ways can 8 books be arranged on a shelf? A. 8 ways B. 64 ways C. 256 ways D. 40,320 ways
Can you Solve the system of equations y=2x-7 and y=5x+2?
Which of the following rebellions was caused by frontier settlers and landless former indentured servants angered by the policies of Virginia’s government? (A)