breannelemmon86 breannelemmon86
  • 01-07-2021
  • Business
contestada

Fern invested $6400 into a continuously compounded account with an interest rate of 1.5%. After 10 years, how much is the account worth

Respuesta :

facundobuzzetti
facundobuzzetti facundobuzzetti
  • 05-07-2021

Answer:

FV= $7,435.74

Explanation:

Giving the following information:

Initial investment= $6,400

Interest rate= 1.5%

Number of periods= 10 years

To calculate the value of the account in ten years, we need to use the following formula:

FV= PV*e^(i*n)

FV= 6,400*e^(0.015*10)

FV= $7,435.74

Answer Link

Otras preguntas

What's 5 divided by x squared explain
a lunch bill including tax, is divided among you and 5 friends. everyone pays less than $8.75. write and solve an inequality that describes the total amount of
What is the creepiest sounding scale? What scale would u use for writing creepy music in other words
Thelma spent 1/6 of her weekly allowance on dog toys.  1/4 on a dog collar and 1/3 on dog food.  What fraction of her weekly allowance is left
a lunch bill including tax, is divided among you and 5 friends. everyone pays less than $8.75. write and solve an inequality that describes the total amount of
Factor the expression. If the expression cannot be factored, say so.
The ______ was established in 1943 to assist in the transition from a peacetime to a wartime economy ?
Factor the expression. If the expression cannot be factored, say so.
A blue rope is 3 times the length as a red rope. A green rope is 5 times as log as the blue rope of the total length of all 3 ropes equals 508.25m what is the l
find the sum. write each mixed number in simplest form 4 7/8 + 5 1/4