Mr. Anderson put $1,000 into an account that draws 6.5% interest compounded continually. How much money will be in the account i
n 30 years if he makes no deposits or withdrawals? *
A $ 4,868.8
B $7,028.69
C $6,614.37
D $5,287.65
2 answers:
I is th interest
P is the principal or original amount
R is the rate
N is the number of years
Since r must be decimal , we divide 6.5% by 100
Answer:
You'll need the formula:
Total = principal * e ^(rate * years)
where "e" is the transcendental number 2.718281828459
Total = $1,000.00* 2.718281828459 ^ (.065 * 30)
Total = $1,000.00* 2.718281828459 ^ 1.95
Total = $1.000.00 * 7.0286875806
Total = $7,028.69
Answer is B
Step-by-step explanation:
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Answer:
B
Step-by-step explanation:
Step 1: plug in the numbers. 7(6)-4
Step 2 multiply 7x6 42-4
Answer:
$304.5...........................
35% = 0.35
0.35*125=43.75=answer
Alternate way to find answer
1.25*35=43.75