Mathematics: If $625 is invested at an interest rate of 7% per year and is compounded continuously, how much will the investment be worth in 12 years? use the continuous compound interest formula: a = pert.

If $625 is invested at an interest rate of 7% per

Ответ:

kaleahearly123

09.03.2022

$\bf ~~~~~~ \textit{Continuously Compounding Interest Earned Amount} \\\\ A=Pe^{rt}\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill & \$625\\ r=rate\to 7\%\to \frac{7}{100}\dotfill &0.07\\ t=years\dotfill &12 \end{cases} \\\\\\ A=625e^{0.07\cdot 12}\implies \implies A=625e^{0.84}\implies A\approx 1447.73$

0,0(0 оценок)

Ответ:

Alex9089435028

22.09.2021

Mathematics

1.6

2.112

3.216

4.2,401

0,0(0 оценок)

If $625 is invested at an interest rate of 7% per year and is compounded continuously, how much will the investment be worth in 12 years? use the continuous compound interest formula: a = pert.

Ответ:

Ответ:

Ask your question to the AI advisor

More tips

Answers on questions: Mathematics

Ask an AI advisor a question