Ask Question
28 October, 04:23

If you were to place $2,500 in a savings account that pays 5% interest compounded continuously, how much money will you have after 10 years? Assume you make no other deposits or withdrawals.

How would I go about finding this?

+3
Answers (1)
  1. 28 October, 05:29
    0
    But using the formula makes this much simpler, P (1+r/n) ^nt

    F = Future value

    P = present value

    r = annual interest rate written as a decimal

    t = number of years

    F = 2500 (2.71) ^0.5

    = 4121.8
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “If you were to place $2,500 in a savings account that pays 5% interest compounded continuously, how much money will you have after 10 ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers