How much would $125 invested at 8% interest compounded continuously be worth after 16 years? Round your answer to the nearest cent.
A(t) = P * e^rt
A. $367.26
B. $428.24
C. $449.58
D. $285.00
How much would $125 invested at 8% interest compounded continuously be worth after 16 years?
Plug all values into the equation to find your answer:
A(t) = 125e^(.08 * 16) = $449.58
The answer is C: $449.58
Apex sucks. Math doesn't when you can apply it to daily life!
Need a question figured out in a hurry? Buy me a cup of coffee, and send your question. I'll get back to you lightning fast, even in the middle of the night! Oh, a cup of coffee is about $3.00, so...
No comments:
Post a Comment
Don't spam me. Spam sux. Spammers suck. So don't suck.