rayray72 rayray72
  • 10-05-2017
  • Mathematics
contestada

Find the interest earned on a $10,000 balance for nine months at 3 1/4% interest compounded continuously ?

Respuesta :

wolf1728
wolf1728 wolf1728
  • 13-05-2017
Total = Principal * e^(rate * years)
Total = 10,000 * e^(.0325 * .75)
Total = 10,000 * 1.0246744988
Total = 10,246.75
Therefore the interest = 246.75
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