naasia
contestada


If $535 is invested at an interest rate of 6% per year and is compounded continuously, how much will the investment be worth in 10 years?

Respuesta :

the investment after 10 years would be 856

Answer:

$ 958.10

Step-by-step explanation:

Given that

Initial investment P=$ 535

Need to find future worth A=?

Interest rate= 6%

time n= 10 yr

We know that formula for compound interest

[tex]A=P\left ( 1+\dfrac{r}{100} \right )^n[/tex]

Now by putting the values

[tex]A= 535\left ( 1+\dfrac{6}{100} \right )^{10}[/tex]

A=$ 958.10

So the investor will get $ 958.10 in 10 years.

Otras preguntas