jocelynreyes3030 jocelynreyes3030

02-03-2020
Mathematics

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How much would $500 invested 4% interest compounded continuously be worth after 7 years?

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goddessboi goddessboi

02-03-2020

Answer:

$661.56

Step-by-step explanation:

Formula for compounded interest -> I=Pe^(rt)

I=500(e^(0.04*7))

I=500(e^0.28)

I=661.56

So the value after 7 years would be $661.56

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