How much would $400 invested at 9% interest compounded continuously be worth after 3 years? Round your answer to the nearest cen
2 answers:
Answer:
$523.99
Step-by-step explanation:
We are asked to find the final amount amount that we will get after investing $400 at a rate of 9% interest compounded continuously after 3 years.
We will use compound interest formula to solve our given problem.
, where,
A = Final amount after t years,
P = Principal amount,
r = Annual interest rate in decimal form.
Therefore, the amount will be worth $523.99 after 3 years.
You might be interested in
Answer:
a.)
b.)
Step-by-step explanation:
a.) We are given the heights and their frequency. We can make a new set:
198, 199, 199, 199, 200, 200, 201, 201, 201, 201, 201, 202, 202
Now find the mean. The mean is found by adding all the numbers in the set, then dividing the total by the number of terms in the set. Add:
Now count the terms. There are 13 terms. Divide the total by the number of terms:
The mean is 200.3.
b.) Use random values like 200, 198 etc. and add them to the total of the last set, then divide by 14 instead of 13 (because there is a new player). Do this until you get a mean of 201 with the new height:
For the new mean to be 201 cm, the new player has a height of 210 cm.
Finito.