Answered

Find the best answers to your questions at Westonci.ca, where experts and enthusiasts provide accurate, reliable information. Experience the ease of finding reliable answers to your questions from a vast community of knowledgeable experts. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.

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%

Sagot :

Answer:

a) $1920, b) $2880, c) $4320, d) $6720

Step-by-step explanation:

a) Interest = Principal(Rate)(time)/100

  Interest = $8000(12)(2)/100

Interest = $1,920

b) Interest = $8000(3)(12)/100

Interest = $2880

c) Interest = $8000(4.5)(12)/100

Interest = $4320

d) Interest = $8000(7)(12)/100

Interest = $6720

Thank you for your visit. We are dedicated to helping you find the information you need, whenever you need it. We appreciate your time. Please come back anytime for the latest information and answers to your questions. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.