Question

Suppose you invest $7500 at an annual interest rate of 4.2% compounded continuously. How much will you have in the account after 2 years? Round the solution to the nearest dollar.

Answer 1

Explanation:

P=$7500

T=2yrs

R=4.2%

now,

CA=P((1–R)^T)/100

=7500(1–4.2/100)^2

then slove it on calculator and you will get the required result