susanbaldie2196 susanbaldie2196

13-01-2021
Business

contestada

FlybynightSavings is offering a savings account that pays 32% compounded continuously. How much interest would a deposit of $2,000 earn over 10 years

Respuesta :

Parrain Parrain

15-01-2021

Answer: $47,065.06

Explanation:

When interest is compounded continuously, the formula is:

Future value = Principal * e^(rate * time period)

= 2,000 * e⁰.³² ˣ ¹⁰

= $49,065.06

Amount of interest earned:

= $49,065.06 - 2,000

= $47,065.06

Answer Link

Otras preguntas

A utility company in a western city of the United States expects the consumption of electricity to increase by 11%/year during the next decade, due mainly to th

what percent of 91 of 524

which of the following can be found on both prescription and over-the-counter drug labels? a. dosage b. warnings c. ingredients d. type of symptoms the drug tre

Tina has been dieting for a total of 13 weeks. She lost 3 pounds on the first week of her diet, but gained back a pound on the second week. On each remaining we

Michael is paid $9 per hour to work at the movie theater and $7 per hour when he helps his aunt at her bakery. Michael cannot work more than 32 hours in a week,

a cut dividing the body into upper and lower portions is called sagittal section frontal section transverse section coronal section

exercise is the one of the most important keys to wellness. please select the best answer from the choices provided. t f

What's 3(2x+5) algebraic

many online communities celebrate and share life hacks. please select the best answer from the choices provided t f

Good morning change the fraction 13/20 to a decimal