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)
Math question: Given the sides of a triangle as a = 5, b = 6, and c = 8, find the area of the triangle using Heron’s Formula.
+
Question: Solve the inequality 2x + 5 < 10 for x.
+
Question: Find the absolute extrema of the function f(x) = x^2 - 3x + 5 on the interval [1, 4].
+
New questions in Mathematics
How much volume of water in MegaLiters (ML) is required to irrigate 30 Hectare crop area with depth of 20mm?
Let 𝑒 = 𝑓(π‘₯, 𝑦) = (𝑒^π‘₯)𝑠𝑒𝑛(3𝑦). Check if 9((πœ•^2) u / πœ•(π‘₯^2)) +((πœ•^2) 𝑒 / πœ•(𝑦^2)) = 0
If we have the sequence: 3, 6, 12, 24 Please determine the 14th term.
Let the vectors be u=(-1,0,2) , v=(0,2,-3) , w=(2,2,3) Calculate the following expressions a)<u,w> b) &lt;2u- 5v,3w&gt;
8xΒ²-30x-10xΒ²+70x=-30x+10xΒ²-20xΒ²
Eight acts are scheduled to perform in a variety show how many different ways are there to schedule their appearances show your work
5) A family with a father, mother and 3 children must sit on five chairs in a row and the only restriction is that the mother must be at one end. In how many different ways can they be seated?
A client did not advance L 10,000 for the rental of a parking area and it corresponds to 4 months, of which 2 months were consumed
Determine the absolute extrema of the function 𝑓(π‘₯)=π‘₯3βˆ’18π‘₯2 96π‘₯ , on the interval [1,10]
what is the annual rate on ​$525 at 0.046​% per day for 3 months?
7/6-(-1/9)
Identify a pattern in the list of numbers.Then use this pattern to find the next number. 37,31,25,19,13
By direct proof, how can you prove that β€œThe sum of any three consecutive even integers is always a multiple of 6”.
I need to know what 20% or Β£3292.75
The sum of two numbers is 144. Double the first number minus thrice the second number is equal to 63. Determine the first two numbers.
In the telephone exchange of a certain university, calls come in at a rate of 5 every 2 minutes. Assuming a Poisson distribution, the average number of calls per second is: a) 1/8 b) 1/12 c) 1/10 d) 2/5 e) 1/24
I. Order to add 40.25+1.31+.45 what is the first action to do ?
1. A jeweler has two gold bars, with 80% purity and the other with 95% purity. How much of each must be melted to obtain a 5 kilo ingot with 86% purity?
To find the increased amount on a standard term deposit with the following conditions: starting amount: BGN 13000, type of deposit: annual, annual compound interest rate: 1.4%, after 4 years;
the length of the fenced in area is to be 5 ft greater than the width and the total amount of fencing to be used is 89 ft find the width and length