Question
Emma receives $7750 and invests it in an account that earns 4% interest
compounded continuously. What is the total amount of her investment after 5 years?
compounded continuously. What is the total amount of her investment after 5 years?
Answers
Henry
P = Po*e^rt.
P = Principal amt. after 5 yrs.
Po = $7750 = Initial investment.
rt = (4%/100%)*5 = 0.20.
Solve for P.
Answer: $9465.87.
P = Principal amt. after 5 yrs.
Po = $7750 = Initial investment.
rt = (4%/100%)*5 = 0.20.
Solve for P.
Answer: $9465.87.