How much would $125 invested at 8% interest compounded continuously be worth after 16 years? Round your answer to the nearest cent. Do not include units in your answer.

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asked Aug 1, 2018 27.8k views

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Robbert · Answer 1 · 2018-08-05T03:15:04+0000

The formula is
A=p e^rt
A future value?
P present value 125
E constant
R interest rate 0.08
T time 16 years
A=125×e^(0.08×16)
A=449.58 round your answer to get
A=450

How much would $125 invested at 8% interest compounded continuously be worth after 16 years? Round your answer to the nearest cent. Do not include units in your answer.

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