document.write( "Question 1030223: Valerie invests $100,000 in a CD earning 1.5% annual interest. If the CD matures in 5 years what will be its value if interest is compounded continously \n" ); document.write( "
Algebra.Com's Answer #645118 by addingup(3677)![]() ![]() You can put this solution on YOUR website! In continuous compounding we get to use one of the constants in math, this one identified by the letter e: \n" ); document.write( "A = Pe^(rt) \n" ); document.write( "A = 100,000(2.7183^0.075) \n" ); document.write( "A = 100,000*1.077885 \n" ); document.write( "A = 107,788.50 \n" ); document.write( " |