kyleighdenise kyleighdenise

22-02-2017
Mathematics

Answered

You invest $500 in an account with an annual interest rate of 1.1%, compounded continuously. How much money is in the account after 5 years? Round your answer to the nearest whole number

Verified Answer :

22-02-2017

original amount ((100 + interest) / 100)^years

500 1.011^5 = 528.111691683 = $528

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