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How much would $500 invested at 5% interest compounded continuously be worth after 4 years? Round your answer to the nearest cent

How much would $500 invested at 5% interest compounded continuously be worth after 4 years? Round your answer to the nearest cent
asked 172k views
3 votes
How much would $500 invested at 5% interest compounded continuously be worth after 4 years? Round your answer to the nearest cent

asked
User Kondalarao V
by
8.1k points

1 Answer

2 votes

Answer:

$610.70

Explanation:


a = pe^(rt)

a = 500
e^(.05 * 4)

a = $610.70

answered
User Camickr
by
9.0k points
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