dcharlene85 dcharlene85

25-04-2018
Mathematics

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Please walk me through compounding interest continuously.

Please walk me through compounding interest continuously class=

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11beehshahbaz 11beehshahbaz

25-04-2018

Principal Amount = P = $500
Interest rate = r = 9% = 0.09
Time in years = t = 4

Worth after 4 years = A(t)

Using the given formula:

[tex]A(t)=Pe^{rt} \\ \\ A(t)=500e^{0.09*4} =716.66[/tex]

Thus, the worth of the account after 4 years will be $716.66

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