radioactive014 radioactive014

23-06-2017
Mathematics

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If $535 is invested at an interest rate of 6% per year and is compounded continuously, how much will the investment be worth in 10 years? (1 point)

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Aliwohaish12 Aliwohaish12

23-06-2017

Hi there

The formula of compounded continuously is
A=pe^rt
A future value?
P present value 535
R interest rate 0.06
E constant
T time 10 years
So
A=535×e^(0.06×10)
A=974.83 round your answer to get
A=975

Good luck!

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