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

If a slope of a line is 2/0 is it 0 or undefined?
What is the mean of 87, 93, 86, 90, and 84?
Which of the following statements is true concerning LUCA? (1) LUCA was a cell. (2) All life on Earth evolved from LUCA. (3) LUCA probably existed probably arou
How do you Factor c(squared)-8c ??
which factor made the most difference in how agriculture affected the economies of the colonies?
The length of a diagonal of a cube with edge length 25cm
If a slope of a line is 2/0 is it 0 or undefined?
Why was is difficult for the Arab people to form one nation?
What is biogeography and what does it provide?
Which of the kingdoms has the smallest number of known species