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Amanda invests $6300 in a new savings account which earns 3.9% annual interest, compounded continuously. What will be the value of her investment after 7 years?

Amanda invests $6300 in a new savings account which earns 3.9% annual interest, compounded continuously. What will be the value of her investment after 7 years?
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Amanda invests $6300 in a new savings account which earns 3.9% annual interest, compounded continuously. What will be the value of her investment after 7 years?

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User Shambho
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1 Answer

4 votes
This is Po(1+0.039/4)^28, divide interest by 4 and raise to 7 years* 4 compounds per year. Round at end.
=$8266.63
answered
User Nikita Kalugin
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8.1k points
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