SOLUTION: A CD paying 4% APR compounded continuously. Find future value of the CD if you invest $1320 for a term of 520 days.

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Question 1147707: A CD paying 4% APR compounded continuously. Find future value of the CD if you invest $1320 for a term of 520 days.
Answer by VFBundy(438) About Me  (Show Source):
You can put this solution on YOUR website!
P = 1320
r = 0.04
t = 520/365 = 1.424658

x+=+Pe%5Ert

x+=+1320+%2A+e%5E%280.04%2A1.424658%29

x+=+1320+%2A+e%5E%280.056986%29

x+=+1320+%2A+e%5E%280.056986%29

x+=+1320+%2A+1.058641

x = $1397.41