Answered

Westonci.ca is the Q&A platform that connects you with experts who provide accurate and detailed answers. Explore in-depth answers to your questions from a knowledgeable community of experts across different fields. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.

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

Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.