jellybean6487
08.04.2020 •
Mathematics
NEED HELP ASAP!!
Ted invests $5,042 in a savings account a fixed annual interest rate of 3% compounded continuously. What will the account balance be after 5 years?
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Ответ:
$5,857.97
Step-by-step explanation:
You are going to want to use the continuous compound interest formula, which is shown below.
A = total
P = principal amount
r = interest rate (decimal)
t = time (years)
First change 3% into the decimal form:
3% -> -> 0.03
Now lets plug in the values into the equation:
Ted's account balance after 5 years will be $5,857.97
Ответ: