DayDaySoCool30 DayDaySoCool30
  • 09-06-2018
  • Mathematics
contestada

if $5,000,000 isinvested at 4% interest compunded continuously, how much willl the investment be worth in 30 years

Respuesta :

minakimble
minakimble minakimble
  • 09-06-2018
The answer is $16216987.55 (IMPORTANT: This is the answer assuming that the interest rate is annually. The quesiton says 'continuously' so I was a bit confused)

To solve this problem, you can use the compound interest formula. 

Here it is once you plug in the numbers: A = 5,000,000 ( 1 + .04) ^30

Just solve the equation to find the solution.


Answer Link

Otras preguntas

Una lista de comidas en un café o restaurante es
The image was created most directly in response to A.) social reform efforts by settlement-house workers B.) poll taxes and literacy test that blocked African-
You just got a job in a new city. You move into an apartment with some acquaintances. All your roommates, however, are slackers and do not clean up after themse
When you are purchasing green cleaning products, which of the following informative information should not grab your attention? a. Performance b. Ingredients c.
4. Logan is purchasing a new home. After making his down payment, he will need to obtain a mortgage for $120,000. Based on his credit score, he qualifies for a
The _____ takes the ideas of the Declaration of Independence and turns them into laws and institutions.
Which of the following elements do you expect to be most like sulfur?.
Need help with question
All of the following are true statements except _____. |−93| = −93 |93| = 93 −|93| = −93 |−93| = 93
Which diagram shows a dilation?