hawtshu5886 hawtshu5886
  • 04-02-2022
  • Mathematics
contestada

You deposit $500 into an account that pays 4.25% annual interest compounded continuously. What is the balance after 10 years?

Respuesta :

jdoe0001 jdoe0001
  • 04-02-2022

[tex]~~~~~~ \textit{Continuously Compounding Interest Earned Amount} \\\\ A=Pe^{rt}\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill & \$500\\ r=rate\to 4.25\%\to \frac{4.25}{100}\dotfill &0.0425\\ t=years\dotfill &10 \end{cases} \\\\\\ A=500e^{0.0425\cdot 10}\implies A=500e^{0.425}\implies A\approx 764.80[/tex]

Answer Link

Otras preguntas

Graph the functions and approximate an x-value in which the exponential function exceeds the polynomial function. y = 4^x y = 7x^2 + 4x - 2 a. x=-1 b. x=0 c.
I wanted to stick my head between my knees. "Listen Jolu, that was really stupid of me. I did it at like two in the morning. I was just crazy when it was happen
What is the Volume of a cylinder with base radius 4 and height 7. Use 3.14 for pie.
En el cine yo me sente en una_____muy comoda
Please help. Samantha threw an apple out of a window from the tenth floor of her apartment building. The equation y = -16t² +120 can be used to represent the f
Why did confederate general hood march in the opposite direction of sherman??
When is donald trump going to get a tape line?
columbus made his discovery in 1492. what century was this
(8k+6) to the second power
Emily practices the piano 25 minutes a day. To identify the total number of minutes she practices, she uses the function rule: y = 25x.Find f (10)