parismodz123 parismodz123
  • 12-02-2019
  • Mathematics
contestada

How much would $600 invested at 8% interest compound continuously be worth after 3 years ?

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sqdancefan
sqdancefan sqdancefan
  • 12-02-2019

Answer:

  $762.75

Step-by-step explanation:

The amount is given by the formula ...

  A = Pe^(rt) . . . where A is the account balance, P is the principal, r is the annual interest rate, and t is the number of years

Filling in the given values, you get ...

  A = $600·e^(.08·3) ≈ $762.75

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