Question
Asked Apr 14, 2019
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If $400 is invested at an interest rate of 4.5% per year, find the amount of the investment at the end of 14 years for the following compounding method. (Round your answers to the nearest cent.)

(a) Continuously 

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Expert Answer

Step 1

(a)

Here the principal amount is P = $400, rate of interest r = 4.5%.

Amount after t years which is compounded continuously can be obtain by the formula, A = Pert.

Step 2

Amount after 14 years can be...

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MathCalculus

Functions

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