kyarrasimpson kyarrasimpson
  • 13-02-2017
  • Mathematics
contestada

The value of $1300invested at 4.2% interest compounded continuously for 5 years, 9 months

Respuesta :

Zepdrix
Zepdrix Zepdrix
  • 13-02-2017
For continuously compounded interest:

Amount = Principle * e^(rate*time)
A = Pe^(rt)

Principle = 1300

Rate of 4.2% converted to decimal value: r=0.042
(Move decimal two places)

Time 5years 9months converted to years: 5.75
(9 months / 12 months = 0.75)

Plug in the values,

Amount = 1300 * e^(0.042 * 5.75)

And let your calculator do the rest.
Answer Link

Otras preguntas

Which of the following sentences correctly uses parallel structure? A. She is an artist, athletic, and plays piano. B. She is an artist, an athlete, and a
Choose the correct conjugation of tener for the following subject .Nosotros Tenemos Tengo Tiene Tienen
Which group first suggested that gray wolves be reintroduced to Yellowstone?
PLEASE HELP DUE TODAY
An outlook emphasizing classicism, secularism, and individualism was a key feature of what historical period?
In the Canterbury Tales, the pilgrims agree _______________ to participate in a storytelling contest.
Jonathan and Sarah purchased a beach house for $10,000,000. The home appreciates at a rate of 3% per year. The appreciation of the house is shown in the graph.
How are additional slides added to presentations?
An experiment consists of rolling two fair dice and adding the dots on the two sides facing up. Find the probability of the sum of the dots indicated. A sum les
I need help please??