Jayfab99 Jayfab99

28-07-2017
Mathematics

contestada

Help please?? If you deposit $750 in an account that pays 8% annual interest compounded continuously, what will the balance be after five years?

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Aliwohaish12 Aliwohaish12

28-07-2017

The formula of a continuous compound interest is
A=p e^rt
A the balance?
P present value 750
E constant
R interest rate 0.08
T time 5 years
A=750×e^(0.08×5)
A=1,118.87

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