lordcaos066
18.03.2021 •
Mathematics
1) Mike invests $2,316 in a retirement
account with a fixed annual interest rate of
3% compounded continuously. What will
the account balance be after 17 years?
Solved
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Ответ:
$3828 approx
Step-by-step explanation:
Given data
Principal=$2316
Rate= 3%
Time= 17 years
The compound interest formula is
A=P(1+r)^t
substitute
A=2316(1+0.03)^17
A=2316(1.03)^17
A=2316*1.652847
A=$3827.99
Hence the account balance after 17 years is $3828 approx
Ответ:
WAW 421!
Step-by-step explanation:
WAW WAW 421