LadyNikki
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Danielle invests $2,007 in a retirement
account with a fixed annu interest rate of
7o compounded continuously. What will
the account balance be after 16 years?

Danielle invests 2007 in a retirementaccount with a fixed annu interest rate of7o compounded continuously What willthe account balance be after 16 years class=

Respuesta :

Formula For finding Simple interest= Profit x rate x time/ 100

Profit = $2,007 x Rate= 7% x Time = 16 years


2,007 x 7 x 16
__________ = 224,784 ÷100 = 2,247.84
100


Answer :- 2247.84
Aliwohaish12
A=pe^rt
A future value
P present value 2007
R interest rate 0.07
T time 16 years

A=2,007×e^(0.07×16)
A=6,151.16
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