Question

Guided Practice

Suppose you invest $500 at an annual interest rate of 4.1% compounded continuously. How much will you have in the account after 10 years?

Substitute the values into the continuously compounded interest formula, A = Pert.

Type your answer and then click Done.

How much will you have in the account after 10 years? Round the solution to the nearest dollar.

$ Fill in the blank text field 1

Answer 1

$ 753

Explanation:

After 10 years, you will have earned approximately $253 in interest.