$70 interested at 12% compunded continuously after a period of 4 years

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asked Aug 3, 2017 117k views

1 Answer

Roohan · Answer 1 · 2017-08-07T14:21:01+0000

Our principal is $70. The rate is 12%
It can only be assumed that it's compounded once a year and it is invested for 4 years.
Therefore, using the equation:
P(1+r/n)^nt
We have 70(1 + .12/1)^(1)4
simplify for your answer:
70(1.12)^4
110.1464

$70 interested at 12% compunded continuously after a period of 4 years

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