If $4500 is invested at an interest rate of 7.25% per year, compounded continuou

Algebra
Tutor: None Selected Time limit: 1 Day

If $4500 is invested at an interest rate of 7.25% per year, compounded continuously, find the value of the investment after the given number of years. (Round your answers to the nearest cent.)

(a) 3 years
 

(b) 6 years
 

(c) 9 years
Apr 4th, 2015

a) $4,500*e^(.0725*3) = $5,593.34

b) $4,500*e^(.0725*6) = $6,952.33

c) $4,500*e^(.0725*9) = $8,641.51

Apr 4th, 2015

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Apr 4th, 2015
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