What will be the balance in an
account that was initially $400
and has been drawing 5.5%
interest compounded
continuously for 8 years?

Question

alliemason04 alliemason04

01-01-2021
Mathematics

contestada

What will be the balance in an
account that was initially $400
and has been drawing 5.5%
interest compounded
continuously for 8 years?

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KeurigKSelect KeurigKSelect · Answer 1 · 2021-01-01T18:21:18+01:00

KeurigKSelect KeurigKSelect

01-01-2021

Answer:

613.87 dollars

Step-by-step explanation:

Times 400 by 1.055 and you'll get 422 dollars. Keep doing this with the product (Result of you multiplying the previous answer by 1.055) eight times and you'll get 613.87 dollars

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Аноним Аноним · Answer 2 · 2022-04-07T20:58:42+02:00

Аноним Аноним

07-04-2022

Answer:

A = $400e^(0.055·8) ≈ $621.08

Step-by-step explanation:

hope this helps

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What will be the balance in an account that was initially $400 and has been drawing 5.5% interest compounded continuously for 8 years?

Respuesta :

Otras preguntas

What will be the balance in an
account that was initially $400
and has been drawing 5.5%
interest compounded
continuously for 8 years?