MNBASKETBALL4805 MNBASKETBALL4805

25-07-2017
Mathematics

contestada

How much would $125 invested at 8% interest compounded continuously be worth after 16 years? Round your answer to the nearest cent. Do not include units in your answer.

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Aliwohaish12 Aliwohaish12

28-07-2017

The formula is
A=p e^rt
A future value?
P present value 125
E constant
R interest rate 0.08
T time 16 years
A=125×e^(0.08×16)
A=449.58 round your answer to get
A=450

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