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Suppose you invest $700 in a savings account that pays 4.2% annual interest compounded continuously. how much money will be in the account after 5 years?

Suppose you invest $700 in a savings account that pays 4.2% annual interest compounded continuously. how much money will be in the account after 5 years?
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suppose you invest $700 in a savings account that pays 4.2% annual interest compounded continuously. how much money will be in the account after 5 years?

asked
User Gappa
by
8.1k points

1 Answer

0 votes

Answer:

847

Explanation:

700 ÷100 = 7

7× 4.2 = 29.4

29.4×5 =147

500+147

answered
User Bharat Parmar
by
8.3k points
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