Arasant Arasant

10-05-2021
Mathematics

contestada

Calculate how much money Carlos has after 4 years if he originally invested $3675 at 8.3% compounded continuously. Use Pe rt, where A is the final amount, P is the original amount deposited, r is the interest rate, and t is the number of years.

Respuesta :

madethisfortwitch1 madethisfortwitch1

10-05-2021

Answer:

$5122.04

Step-by-step explanation:

Continous interest formula:

[tex]P*e^{rt}[/tex]=A

we have

[tex]3675*e^{4*.083}\\3675*1.39375284861\\5122.04171828[/tex]

Which rounds to

5122.04

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