Question: he continuous compound interest formula is given by A=Pert ( rt is the exponent of Pe) where A is the accumulated amount, after an initial
he continuous compound interest formula is given by A=Pert ( rt is the exponent of Pe) where A is the accumulated amount, after an initial investment of P dollars is invested for t years, at annual interest rate r, compounded continuously. Use the formula above to determine the accumulated amount for each of the following different scenarios. Round solutions to the nearest cent. If $37,000 is invested for 22 years and earns 7.5% interest, compounded continuously, the accumulated amount is: A= If $47,000 is invested for 26 years and earns 5.5% interest, compounded continuously, the accumulated amount is: A= If $25,000 is invested for 12 years and earns 2.5% interest, compounded continuously, the accumulated amount is: A= If $47,000 is invested for 25 years and earns 3.5% interest, compounded continuously, the accumulated amount is: A=
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
