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9 October, 14:19

If $535 is invested at an interest rate of 6% per year and is compounded continuously, how much will the investment be worth in 10 years?

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  1. 9 October, 16:36
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    The amount in compund interest will be given by A = Pe^rt where, P is the principal value i. e. $535, r is the rate i. e. 6% i. e r = 0.06and t is the time = 10 years. The, A = $535 * 1.82, or A = $974.83. Thus the investment will be equal to $535 after 10 years.
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