bellambernal2003
Answered

Welcome to Westonci.ca, your ultimate destination for finding answers to a wide range of questions from experts. Discover a wealth of knowledge from experts across different disciplines on our comprehensive Q&A platform. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.

Find the amount of money
accumulated after investing a
principle P for years t at interest
rate r, compounded continuously.
t = 6
P = $1,500 r = 7%

Sagot :

[tex]~~~~~~ \textit{Continuously Compounding Interest Earned Amount} \\\\ A=Pe^{rt}\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill & \$1500\\ r=rate\to 7\%\to \frac{7}{100}\dotfill &0.07\\ t=years\dotfill &6 \end{cases} \\\\\\ A=1500e^{0.07\cdot 6}\implies A=1500e^{0.42}\implies A\approx 2282.94[/tex]

We hope this information was helpful. Feel free to return anytime for more answers to your questions and concerns. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Find reliable answers at Westonci.ca. Visit us again for the latest updates and expert advice.