contestada

suppose you invest 400 at an annual interest rate of 7.6% compounded continuously. How much will you have in the account after 1.5 years? Round the solution to the nearest dollar.

Respuesta :

Aliwohaish12
A=pe^rt
A=400×e^(0.076×1.5)
A=448.30

Answer:

$ 448

Step-by-step explanation:

Here, the principal amount, P = $ 400

Rate of interest, r = 7.6 % = 0.076

Time, t = 1.5 years,

Thus, the amount that is compounded continuously for 1.5 years is,

[tex]A= Pe^{rt}[/tex]

[tex]=400 e^{0.076\times 1.5}[/tex]

[tex]=400e^{11.4}=400\times1.12075212488=448.300849954\approx 448[/tex]

Hence, we will have $ 448 after 1.5 years.