ortiz93
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How much would $500 invested at 4% interest compounded continuously be worth after 7 years? Round your answer to the nearest cent
A(t) = P•e^rt

Respuesta :

Suraimu

Answer:

F = 661.56

Step-by-step explanation:

Continuously compounding interest formula: F = Pe^(rt)

F = future value

P = present value = 500

r = interest rate = 0.04

t = years = 7

F = 500e^(0.04 * 7)

F = 661.56