miatribuiani2037 miatribuiani2037
  • 14-06-2021
  • Mathematics
contestada

A person invests $3,500 in an account that earns 7.5% interest compounded continuously. What is the value of the investment after 4 years?

Respuesta :

oliverphoskins1
oliverphoskins1 oliverphoskins1
  • 14-06-2021

I think it's: 4,674.14$

Answer Link
sreedevi102
sreedevi102 sreedevi102
  • 14-06-2021

Answer:

A = $4724.36

Step-by-step explanation:

P = $3500

r = 7.5% = 0.075

t = 4years

n = 365

     [tex]A = P(1 + \frac{r}{n})^{nt}\\\\[/tex]

        [tex]=3500(1 + \frac{0.075}{365})^{365 \times 4}\\\\=3500(1.00020547945)^{365\times4}\\\\= 3500 \times 1.34981720868\\\\= 4724.36023037\\\\= \$ 4724.36[/tex]

Answer Link

Otras preguntas

If A = (9, 18) and B = (1, 12), what is the length of AB? O A. 10 units B. 12 units C. 9 units O D. 11 units
i'll give brainliest
Katherine is planning to write a story about a young girl who goes on a camping trip, develops a new appreciation for the outdoors, and returns home. Katherine
Read this excerpt from the poem "Lincoln Looked." It was time for a change. Lincoln looked deep within himself and searched for the recipe for a new country ma
So early walking did I see your son: Towards him I made; but he was ware of me, 110 And stole into the covert of the wood: I, measuring his affections by my ow
Ice can be considered a mineral.
what is the approximate distance of the moon to the earth?
do anyone know why the technology is more Important in our live??
What country did Texas break away from to become independent? A. Spain B. Mexico C. France D. The United States
PART B: which detail from the text best support the answer to Part A? Manage emotions