Ask a New Question

Question

If $8000 is invested in an account for which interest is compounded continuously, find the amount of the investment at the end of 12 years for the following interest rates.

a) 2%
b) 3%
c) 4.5%
d) 7%
11 years ago

Answers

Reiny
a)
amount = 8000 e^(12(.02))
= 8500 e^.24
= $ 10805.62

repeat procedure for the others
11 years ago

Related Questions

you invested $8000, part of it in stock that paid 12% annual interest. however, the rest of the mone... Rosa invested $8000 for one year, part ast 8% annual interest and the balance at 10% annual interest... A SUM OF $8000 IS INVESTED IN A SAVING ACCOUNT WHICH PAY THE INTEREST AT COMPOUNDED ANNUALLY .IF THE... ian invested $8000 part at 9% per anum and the remainder was at 10% per anum. after one year A man has $8000 invested, part at 4% and the rest at 2.5 %. The annual income from the 4% investment... if 8000 is invested in a long-term trust fund with an interest rate of 5% compounded continuously wh... And amount of 8000 is invested at a simple interest rate of 1.5% what is the total amount after thre...
Ask a New Question
Archives Contact Us Privacy Policy Terms of Use