How much would $300 invested at 7% interest compounded continuously be worth after 4 years? Round your answer to the nearest cent.

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asked Jun 23, 2018 59.3k views

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Marvin Ward Jr · Answer 1 · 2018-06-25T02:54:02+0000

Hi there

The formula of compounded continuously is
A=pe^rt
A future value?
P present value 300
R interest rate 0.07
T time 4 years
E constant

So
A=300×e^(0.07×4)
A=396.9 round your answer to get
A=397

Good luck!

How much would $300 invested at 7% interest compounded continuously be worth after 4 years? Round your answer to the nearest cent.

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