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InsanelyChaotic
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If $535 is invested at an interest rate of 6% per year and is compounded continuously, how much will the investment be worth in 10 years?
 one year ago
 one year ago
InsanelyChaotic Group Title
If $535 is invested at an interest rate of 6% per year and is compounded continuously, how much will the investment be worth in 10 years?
 one year ago
 one year ago

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InsanelyChaotic Group TitleBest ResponseYou've already chosen the best response.2
my answer is $973.38
 one year ago

kelly226 Group TitleBest ResponseYou've already chosen the best response.2
F = Pe^rt = 535e^(0.06*18) = $1575.40
 one year ago

InsanelyChaotic Group TitleBest ResponseYou've already chosen the best response.2
thank you!!!!!!!! you ROCK
 one year ago

InsanelyChaotic Group TitleBest ResponseYou've already chosen the best response.2
wait, would i do that x ten though?
 one year ago

InsanelyChaotic Group TitleBest ResponseYou've already chosen the best response.2
my options: $1307.12 $974.83 $973.38 $403.43
 one year ago

kelly226 Group TitleBest ResponseYou've already chosen the best response.2
ummm... well if u did X ten what would u get?
 one year ago

kelly226 Group TitleBest ResponseYou've already chosen the best response.2
oohh waait....
 one year ago

InsanelyChaotic Group TitleBest ResponseYou've already chosen the best response.2
it would have to be a lower number, given the answer choices
 one year ago

kelly226 Group TitleBest ResponseYou've already chosen the best response.2
yea.. actually i think its $973.38..
 one year ago

InsanelyChaotic Group TitleBest ResponseYou've already chosen the best response.2
perhaps. thank you:)
 one year ago

kelly226 Group TitleBest ResponseYou've already chosen the best response.2
Since the compounding is continuous, the base must e. A=Pert, so A = 535e (.06)(10) which is $974.83 :)
 one year ago

InsanelyChaotic Group TitleBest ResponseYou've already chosen the best response.2
thank you!!!!!!!!!!
 one year ago

kelly226 Group TitleBest ResponseYou've already chosen the best response.2
your welcome:)
 one year ago
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