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

kelly226Best ResponseYou've already chosen the best response.1
F = Pe^rt = 535e^(0.06*18) = $1575.40
 one year ago

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

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

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

kelly226Best ResponseYou've already chosen the best response.1
ummm... well if u did X ten what would u get?
 one year ago

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

kelly226Best ResponseYou've already chosen the best response.1
yea.. actually i think its $973.38..
 one year ago

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

kelly226Best ResponseYou've already chosen the best response.1
Since the compounding is continuous, the base must e. A=Pert, so A = 535e (.06)(10) which is $974.83 :)
 one year ago

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