anonymous
  • anonymous
You invest $700 in an account that pays an interest rate of 6.5%, compounded interest. Calculate the balance of your account after 20 years. Round your answer to the nearest hundredth. is this the equation & answer for this problem? 700 * (e^.065) * 20 = 14940.226
Mathematics
katieb
  • katieb
See more answers at brainly.com
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

Get this expert

answer on brainly

SEE EXPERT ANSWER

Get your free account and access expert answers to this
and thousands of other questions

amistre64
  • amistre64
is it compounded 'continnuously'?
anonymous
  • anonymous
yes
amistre64
  • amistre64
then thats in error; right thought, wrong setup... and it looks like a google error not your own... try putting it in like this: 700*(e^(.065*20)) and see what you get

Looking for something else?

Not the answer you are looking for? Search for more explanations.

More answers

amistre64
  • amistre64
700 * (e^(.065 * 20)) = 2568.50767 is better and it forces google to follow the order of operations better
anonymous
  • anonymous
darn. i thought i had it right. but thanks! :)

Looking for something else?

Not the answer you are looking for? Search for more explanations.