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You deposit $100 in an account with an APR of 8% and continuous compounding. How much will you have after 10 years?

You deposit $100 in an account with an APR of 8% and continuous compounding. How much will you have after 10 years?
asked 196k views
2 votes
You deposit $100 in an account with an APR of 8% and continuous compounding. How much will you have after 10 years?

asked
User Evan Trimboli
by
7.5k points

1 Answer

4 votes

Answer:

$315.89

Explanation:

I = p(1+r/100)^t

= $215.89

Total = P + I

= $315.89

answered
User RussellH
by
8.1k points
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