SOLUTION: What is the total amount for an investment of $100 invested at 3.5% for 8 years and compounded continuously?

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Question 612964: What is the total amount for an investment of $100 invested at 3.5% for 8 years and compounded continuously?
Found 2 solutions by jim_thompson5910, ewatrrr:
Answer by jim_thompson5910(35256)   (Show Source): You can put this solution on YOUR website!

Start with the continuous compounding formula.


Plug in , (the decimal equivalent of 3.5%), and .


Multiply and to get .


Raise 'e' (which is approximately 2.71828) to the power to get (this value is approximate).


Multiply and to get .


Round to the nearest hundredth (ie to the nearest penny).


So the answer is $132.31
Answer by ewatrrr(24785)   (Show Source): You can put this solution on YOUR website!
 

Hi,

 total amount for an investment of $100 invested at 3.5% for 8 years and compounded continuously? 

 A =  = $132.31 

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