Answered

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you put $20,000 into an account that pays 7.25% compounded continuously. How much money will you have in there after 10 years?

Sagot :

To calculate the compound continuosly in a certain ammount of time we need to use the formula

[tex]A=Pe^{rt}[/tex]

where P is the principal invesment, r is the interest rate in decimal form, and t is the time.

In our case P is $20,000, r is 0.075, and t is 10. Then

[tex]\begin{gathered} A=20000e^{0.075\cdot10} \\ =42340 \end{gathered}[/tex]

Therefore she will have $42,340 after ten years.

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