meredith48034 meredith48034

06-02-2020
Mathematics

contestada

Write a formula that describes the value of an initial investment of $1,200, growing an interest rate of 4% compounded continuously.

Write a formula that describes the value of an initial investment of 1200 growing an interest rate of 4 compounded continuously class=

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musiclover10045 musiclover10045

07-02-2020

Continuous compound is e^rate x time

The formula would be D. 1200e^0.04t

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Adematae Adematae

07-02-2020

Answer: OPTION D A = 1200.e(0.04)(t)

Step-by-step explanation:

If the interest is compounded continuously for t years at a rate of r per year, then the compounded amount is given by:

A = P. e rt

P =$1200, r = 4% , t = t years

A = 1200.e(0.04)(t)

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