SOLUTION: You invest $350 in an account with an interest rate of 1.2% compounded continuously. How much money would be in the account after 10 years? Round your answer to the nearest whole n
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Question 586811: You invest $350 in an account with an interest rate of 1.2% compounded continuously. How much money would be in the account after 10 years? Round your answer to the nearest whole number. Answer by solver91311(24713) (Show Source):
is the future value, i.e. the answer to your problem. is the orginal investment, is the annual interest rate expressed as a decimal fraction (0.012 in this case), is the number of years of the investment, and is the base of the natural logs.
Plug in the known values and do the arithmetic.
John
My calculator said it, I believe it, that settles it
