Ask Question
28 October, 15:26

How much will $100 grow to if invested at a continuously compounded interest rate of 9.25% for 9 years? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

+2
Answers (1)
  1. 28 October, 16:02
    0
    It will grow to $229.91

    Explanation:

    Amount (A) = Pe^rt

    P is the amount invested = $100

    r is the rate of return = 9.25% = 9.25/100 = 0.0925

    t is the duration of the investment = 9 years

    A = 100e^ (0.0925 * 9) = 100e^0.8325 = $229.91 (to 2 decimal places)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “How much will $100 grow to if invested at a continuously compounded interest rate of 9.25% for 9 years? (Do not round intermediate ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers