vimlndz422 vimlndz422

23-04-2018
Mathematics

contestada

suppose you invest $5000 at an annual interest rate of 6.9%, compounded monthly. how much will you have in the account after 10 years?

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ijohnh14 ijohnh14

23-04-2018

Hey :)

Compounded continuously:

5000 * e^(10*(6.9/100)) = 9968.58

Difference to the answer above is:

9948.90 - 9968.58 = 19.68

The answer is $19.68

Hope this helps!

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