ehaunderkhello ehaunderkhello

26-06-2016
Mathematics

Answered

how much would $500 invested at 4% interest compounded continuously be worth after 7 years? round your answer to the nearest cent.

Verified Answer :

Anonymous Anonymous

26-06-2016

Continuously compounding interest formula: F = Pe^(rt)
F = future value
P = present value = 500
r = interest rate = 0.04
t = years = 7

F = 500e^(0.04 * 7)
F = 661.56

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Crystalmynor Crystalmynor

09-07-2019

Answer:

Answer is 661.55 on Apex:)

Step-by-step explanation:

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