Question

Find the amount that results from the given investment, 20$ invested at 7% compounded continuously for 4 years

287

likes
1435 views

Answer to a math question Find the amount that results from the given investment, 20$ invested at 7% compounded continuously for 4 years

Expert avatar
Ali
4.4
92 Answers
To find the amount resulting from the investment, we use the formula for continuously compounded interest:

A = P \times e^{rt}

Where:
A = the amount after t years
P = the principal amount (initial investment)
r = annual interest rate (as a decimal)
t = time in years
e = Euler's number, approximately 2.71828

Given:
P = 20, r = 0.07, and t = 4

Plugging the values into the formula, we get:

A = 20 \times e^{0.07 \times 4}

A = 20 \times e^{0.28}

A = 20 \times 1.323130

A = 26.4626

\boxed{A = 26.46}

Therefore, the amount resulting from the investment of $20 at 7% compounded continuously for 4 years is $26.46.

Frequently asked questions (FAQs)
What is the equation of an exponential function with a base of 2, passing through point (3, 6)?
+
Math Question: "What is the factored form of the quadratic expression xΒ² + 7x + 10?"
+
What is the limit as x approaches infinity of (3x^2 - 4x + 2) / (2x^2 + 5x - 1)?
+
New questions in Mathematics
find the value of the tangent if it is known that the cos@= 1 2 and the sine is negative. must perform procedures.
QUESTION l. An investigation has been carried out in a region to know the perception of "citizen insecurity" of its inhabitants. 1,270 people in the region were interviewed, of which 27.1% responded that it was a "serious" problem. Knowing that this opinion was previously held by 25.3% of the population of that region, we want to know if said opinion has changed significantly for a confidence level of 97.2%. Taking this statement into account, the following is requested: a) Critical value of the contrast statistic. b) Solve the hypothesis test and indicate what conclusion we can reach. c) P-value of contrast.
-11+29-18
Given the vectors: a = (2m – 3n, 4n – m) and b = (2, -3), find the values of m and n that make: a = 5 b.
By differentiating the function f(x)=(xΒ³βˆ’6x)⁷ we will obtain
2x-4y=-6; -4y+4y=-8
Suppose 50% of the doctors and hospital are surgeons if a sample of 576 doctors is selected what is the probability that the sample proportion of surgeons will be greater than 55% round your answer to four decimal places
(2x+5)^3+(x-3)(x+3)
Analyze the following situation Juan is starting a new business, he indicates that the price of his product corresponds to p=6000βˆ’4x , where x represent the number of tons produced and sold and p It is given in dollars. According to the previous information, what is the maximum income that Juan can obtain with his new product?
What is the r.p.m. required to drill a 13/16" hole in mild steel if the cutting speed is 100 feet per minute?
2.3/-71.32
The sum of two numbers is equal to 58 and the largest exceeds by at least 12. Find the two numbers
Find all real numbers x that satisfy the equation \sqrt{x^2-2}=\sqrt{3-x}
determine the polynomial F of degree 2 that interpolates. f at points (0;1) (2;5) (4;6). calculate F(0.8). Note: Using the polynomial expression with difference operator.
How many square feet of floor area are there in three two-storey apartment houses, each of which is 38 feet wide and 76 feet long?
Congratulations, you have saved well and are ready to begin your retirement. If you have $1,750,000.00 saved for your retirement and want it to last for 40 years, and will earn 10.8% compounded monthly: What is the amount of the monthly distribuion? 216.50 How much interest is earned in retirement?
A person runs 175 yards per minute write a variable that represents the relationship between time and distance
00 piece jigsaw puzzle. the completed puzzle is 10x10. each piech connects to at least 2 other pieces. i plan to assemble by taking pieces out of box one by one. if i've already taken out 2 pieces that dont directly connect, what is the minimum number of additional pieces that i need to draw to in order to guarentee that the original 2 pieces connect?
calculate the product of 4 and 1/8
Construct a set of six pieces of data with​ mean, median, and midrange of 67 and where no two pieces of data are the same.