SOLUTION: If $1500 is invested at an interest of 11%, compounded continuously, determine the balance in the account after 4 year. Use the formual A=Pe raised rt.
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-> SOLUTION: If $1500 is invested at an interest of 11%, compounded continuously, determine the balance in the account after 4 year. Use the formual A=Pe raised rt.
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Question 248790: If $1500 is invested at an interest of 11%, compounded continuously, determine the balance in the account after 4 year. Use the formual A=Pe raised rt. Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! If $1500 is invested at an interest of 11%, compounded continuously, determine the balance in the account after 4 year. Use the formual A=Pe raised rt.
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A(t) = Pe^(rt)
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A(4) = 1500*e^(0.11*4)
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A(4) = $2329.06
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Cheers,
Stan H.
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