medinamariana88 medinamariana88
  • 07-12-2017
  • Mathematics
contestada

How much would 500 invested at 3% interest compounded continuously be worth after 6 years

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jdoe0001 jdoe0001
  • 07-12-2017
[tex]\bf ~~~~~~ \textit{Continuously Compounding Interest Earned Amount}\\\\ A=Pe^{rt}\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\to& \$500\\ r=rate\to 3\%\to \frac{3}{100}\to &0.03\\ t=years\to &6 \end{cases} \\\\\\ A=500e^{0.03\cdot 6}\implies A=500e^{0.18}\implies A\approx 598.6086815609[/tex]
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nicholasvarnes nicholasvarnes
  • 16-05-2022

Answer:

B. $598.60

Step-by-step explanation:

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