kikihaigler kikihaigler
  • 01-05-2017
  • Mathematics
contestada

you invest $4,200 in an account that pays an interest rate of 6.5%, compounded continuously

calculate the balance of your account after 10 years. round your answer to the nearest hundredth

Respuesta :

aliyahmcintosh7
aliyahmcintosh7 aliyahmcintosh7
  • 01-05-2017
A=4200*e^.65 
A=$8045.27 
This is almost doubling, and the rule of 72 would predict doubling in 11 years, so the answer makes sense.
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