Use the correct compound interest formula: nt r A = P(1 + )"t n A = Pert Find the accumulated value of an investment of $2000 at 9% compounded continuously for 5 years. $3136.62 $2900.00 $3236.62 $3077.25 3 or

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section: Chapter Questions
Problem 49CR
icon
Related questions
Question
Use the correct compound interest formula:
A = P(1+)nt
A = Pert
Find the accumulated value of an investment of $2000 at 9% compounded
continuously for 5 years.
$3136.62
$2900.00
$3236.62
$3077.25
3
or
Transcribed Image Text:Use the correct compound interest formula: A = P(1+)nt A = Pert Find the accumulated value of an investment of $2000 at 9% compounded continuously for 5 years. $3136.62 $2900.00 $3236.62 $3077.25 3 or
Expert Solution
steps

Step by step

Solved in 3 steps with 3 images

Blurred answer
Recommended textbooks for you
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
College Algebra
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning