Question
If $3500 is invested at an interest rate of 6.25% per year, compounded continuously, find the value of the investment after the given number of years.
a) 3 years
b) 6 years
c) 9 years
a) 3 years
b) 6 years
c) 9 years
Answers
Reiny
a)
amount = 3500 e^(3(.0625))
= .....
same for the others.
amount = 3500 e^(3(.0625))
= .....
same for the others.