julibobnar19 julibobnar19
  • 01-05-2018
  • Mathematics
contestada

peter put $8,000 into a savings account that pays 6% interest, compounded continuously. what will he have after 5 years?

Respuesta :

TheGreatWulfbite
TheGreatWulfbite TheGreatWulfbite
  • 01-05-2018
So, continuous compound formula is:
[tex] Pe^{rt} [/tex]
P is Principal Amount
r is Rate
t is Time
P is 8000
r is 6%
t is 5
Therefore, you get $10,798.86.
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