Question

How much would $300 invested at 7% interest compounded continuously be
worth after 4 years? Round your answer to the nearest cent.
A. $306.53
B. $384.00
C. $396.93
D. $347.09​

Answer 1

Answer:

Hi there

The formula of compounded continuously is

A=pe^rt

A future value?

P present value 300

R interest rate 0.07

T time 4 years

E constant

So

A=300×e^(0.07×4)

A=396.932 round your answer to get

A=396.93

Good luck!

Step-by-step explanation: