how do you Find the value of $950 invested at 4.5% with interest compounded continuously for 5 years.?
Find the value of $950 invested at 4.5% with interest compounded continuously for 5 years.
Top 2 Answers
Favorite Answer
(1+.45)^5 *950
0
4 years ago
Use the formulation A = P(a million+r/n)^(nt) the place P is the preliminary quantity of $4450, r is the interest value (subsequently, 0.0.5), t is the time invested in years (subsequently, 5.seventy 5), and n is the kind of situations interest is compounded in line with 3 hundred and sixty 5 days (subsequently, n=12). For checking applications, the respond i’m getting with this formulation is $6100.87.
0
