SOLUTION: How much would $150 invested at 8% interest compounded continuously be worth after 17 years? Round your answer to the nearest cent.

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: How much would $150 invested at 8% interest compounded continuously be worth after 17 years? Round your answer to the nearest cent.       Log On


   

Question 285335: How much would $150 invested at 8% interest compounded continuously be worth after 17 years? Round your answer to the nearest cent.

Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
How much would $150 invested at 8% interest compounded continuously be worth after 17 years? Round your answer to the nearest cent.
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A(t) = P*e^(rt)
A(17) = 150*e^(0.08*17)
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A(17) = $584.43
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Cheers,
Stan H.