mica8ANortevaney
mica8ANortevaney mica8ANortevaney
  • 15-08-2016
  • Mathematics
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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?

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W0lf93
W0lf93 W0lf93
  • 14-07-2017
The amount in compund interest will be given by A = Pe^rt where, P is the principal value i.e. $535, r is the rate i.e. 6% i.e r= 0.06and t is the time = 10 years. The, A = $535 * 1.82, or A = $974.83. Thus the investment will be equal to $535 after 10 years.
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