kellymcdow2558 kellymcdow2558

21-05-2021
Mathematics

contestada

Alex borrows $2500 from a bank that has a rate of 5.5% with continuous compounding. How much does he owe after 2 years? Round to the nearest hundredths.

Respuesta :

ewomazinoade ewomazinoade

23-05-2021

Answer:

$5282.70

Step-by-step explanation:

the formula for calculating future value when there is continuous compounding is : A x e^r x N

A= amount e = 2.7182818

N = number of years

r = interest rate

2500x e^0.055 x 2 = 5282.70

Answer Link

Otras preguntas

Which requirement is a written qualification for President of the United States? A) The candidate must have graduated from a college or university. B) The candi

What was “the shot heard around the world”? A. the Boston Massacre B. the Battle of Saratoga C. the publication of the Declaration of Independence D. the outbre

Which of these was a factor in the United States entrance in World War I? A) the invasion of Poland B) Japan's invasion of China C) The Axis threat to the Panam

How many triangles can be made if two sides are 4 inches and the angle between them is 90°?

how many square inches are in a square foot?

When you rub two balloons on your sleeve, does it have positive or negative? #Tell me and get 10 points

Help please Romanticism sought truth in A. Nature and order B. Emotion and nature C. Law and order D. Emotion and order

what does the force of gravity between two objects depend on?

find the constant of proportionality and unit rate for the data in the table. Then write the equation to represent the relationship between time t and distance

how do you increase £480 by 7.5%