Ask Question
13 September, 06:11

You invest $3,000 in an account that has an annual interest rate of 2.5%, compounded continuously. How much money will be in the account after 5 years? Round your answer to the nearest whole number. Show all work.

+3
Answers (1)
  1. 13 September, 08:15
    0
    Here' s the equation for one year:

    0.025 (3000) + 3000

    Because it is 5 years:

    5 (0.025 (3000)) + 3000

    0.075 (3000) + 3000

    We can make it simpler:

    1.075 (3000)

    Multiply:

    3225

    You will have $3225
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “You invest $3,000 in an account that has an annual interest rate of 2.5%, compounded continuously. How much money will be in the account ...” in 📘 Mathematics 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