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13 August, 10:20

Aidan has $7565 in his checking account. He invests it in an account that earns 3.5% interest compounded continuously. What is the total amount of his investment after 3 years? Round your answer to the nearest hundredth. Enter your answer as the example: $1234.56

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  1. 13 August, 13:11
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    Total amount = Pe^ (rt)

    where

    P=principal

    e=2.7182818284 ...

    r=0.035

    t=3 (years)

    Total amount

    = 7565 (e^ (0.035*3)

    =$ 8402.53
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Home » Mathematics » Aidan has $7565 in his checking account. He invests it in an account that earns 3.5% interest compounded continuously. What is the total amount of his investment after 3 years? Round your answer to the nearest hundredth.
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