kellymcdow2558 kellymcdow2558

21-05-2021
Mathematics

contestada

Alex borrows $2500 from a bank that has a rate of 5.5% with continuous compounding. How much does he owe after 2 years? Round to the nearest hundredths.

Respuesta :

ewomazinoade ewomazinoade

23-05-2021

Answer:

$5282.70

Step-by-step explanation:

the formula for calculating future value when there is continuous compounding is : A x e^r x N

A= amount e = 2.7182818

N = number of years

r = interest rate

2500x e^0.055 x 2 = 5282.70

Answer Link

Otras preguntas

Q. A customer hands you three (3) five-dollar bills, five (5) quarters, and two (2) dimes to pay the full amount for an item. How much does the item cost? A. $1

X/12=12/72 A.2 B.3 C.4 D.6

How might the girls react differently to best prevent cyberbullying? O They could help their classmate report the comments to a teacher. They could promise to i

Which statement best identifies a theme of the story, "Once Upon a Time"? a Though families act with best intentions, fear can drive individuals to hurt the pe

what is the differnce between ║-3║ and - 3. the first number is only suppoased to have one line on each side

Crystal Rollerbladed 150 feet in 15 seconds, while Gavin rollerbladed 150 feet in 10 seconds. Without doing any calculations, who is faster? Why? Crystal was fa

Look at picture and answer.

X: -3x + 14 = 4x -7

2 (6z + 2) = 28 Linear equations w/ distributions. Please

Which two cities were the most popular destinations during the Great Migration? New York and Chicago Atlanta and New York Detroit and Chicago Chicago and Atlant