help235 help235

05-05-2016
Mathematics

Answered

$70 interested at 12% compunded continuously after a period of 4 years

Verified Answer :

bellbell252 bellbell252

05-05-2016

Our principal is $70. The rate is 12%
It can only be assumed that it's compounded once a year and it is invested for 4 years.
Therefore, using the equation:
P(1+r/n)^nt
We have 70(1 + .12/1)^(1)4
simplify for your answer:
70(1.12)^4
110.1464

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