mmj7367
mmj7367 mmj7367
  • 08-05-2017
  • Mathematics
contestada

FlybynightSavings.com is offering a savings account that pays 29% compounded continuously. How much interest would a deposit of $4,000 earn over 10 years?

Respuesta :

wolf1728
wolf1728 wolf1728
  • 08-05-2017
If that is really supposed to be 29% then
Total = Principal * e^(rate*years)
Total = 4,000 * e^(.29*10)
Total = 4,000 * 18.1741453605
Total = 72,696.58


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