If it is compounded n times per year, then after t years, the interest earned is
1000[(1+.023/n)^(n*t) - 1]
continuous interest is
1000(e^(.023t) - 1)
If Ron put $1000 of his money into a bank account that earns a 2.3% annual interest rate, how much will he earn after 10 years if the interest is compounded
A. yearly, B monthly? C. continuously?
2 answers
🧐🤔☹️ I can’t get it for you
1 answer