You invest $350 in an account with an interest rate of 1.2% compounded continuou

Mathematics
Tutor: None Selected Time limit: 1 Day

You invest $350 in an account with an interest rate of 1.2% compounded continuously. How much money would be in the account after 10 years? Round your answer to the nearest whole number.


Feb 27th, 2015

A is the amount after the compounding.
P = principal = 350
e = appox. 2.7183 (napier's number)

r = annual interest rate = 1.2% =.012
t = year = 10.

That's $395 rounded to the nearest whole number.


Feb 27th, 2015

Did you know? You can earn $20 for every friend you invite to Studypool!
Click here to
Refer a Friend
...
Feb 27th, 2015
...
Feb 27th, 2015
Dec 10th, 2016
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer