SOLUTION: If $5000 is invested at an annual interest rate of 9% compounded continuously, how much is available after 5 years?

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: If $5000 is invested at an annual interest rate of 9% compounded continuously, how much is available after 5 years?      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 332002: If $5000 is invested at an annual interest rate of 9% compounded continuously, how much is available after 5 years?
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
A=Pe^rt
A=5000(2.7183)^.09*5
A=5000*1.56832
A=$7842.58