Answered

At Westonci.ca, we connect you with experts who provide detailed answers to your most pressing questions. Start exploring now! Explore thousands of questions and answers from a knowledgeable community of experts ready to help you find solutions. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately.

If $4500 is invested at 10% annual interest, which is compounded continuously, what is the account balance after 3 years, assuming no additional deposits or withdrawals are made?

Sagot :

mathstudent55

Answer:

$6074.36

Step-by-step explanation:

The formula for continuous compounding is

F = Pe^(rt)

F = $4500 × e^(0.1 × 3)

F = $6074.36

Answer: $6074.36

We appreciate your visit. Hopefully, the answers you found were beneficial. Don't hesitate to come back for more information. We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Westonci.ca is here to provide the answers you seek. Return often for more expert solutions.