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How much will $5000 be worth in 5 years if it is compounded continuously at 3% interest.

How much will $5000 be worth in 5 years if it is compounded continuously at 3% interest.
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15 votes
How much will $5000 be worth in 5 years if it is compounded continuously at 3% interest.

asked
User Avtar Guleria
by
8.1k points

1 Answer

9 votes

Answer:

The final balance is $5,796.37.

The total compound interest is $796.37.

Explanation:

answered
User Thomas Betous
by
8.6k points
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