If $3000 is invested in an account for which interest is compounded continuously, find the amount of the inves?

2% FV = 3,812.98

3% FV = 4,298.05

4.5% FV = 5,142.82

8% FV = 7,810.17

ok?

The question is somewhat confusing. i do no longer understand what 'usually used quantity' is touching on. i visit bypass over that throughout my calculation. i assume that the pastime is compounded in keeping with annum. So it relatively is 8% in keeping with annum. For compound pastime, we use this formula: A = P ( a million + R/one hundred )^n ...the place A = very final quantity P = the quantity invested, pointed out as the first R = cost (without the %) n = style of cases the quantity is compounded. So on your question, you're looking A. the different values are already given: P = 20,000 R = 8 n = a million (on condition that your investment is compounded as quickly as a 365 days) So enable's enter the cost to get the respond: A = P ( a million + R/one hundred )^n = 20,000 ( a million + 8/one hundred )^a million = 20,000 ( a million + 0.08 ) = 20,000 ( a million.08 ) = 21600 So the respond is C. $21,six hundred.

A = Pe^(rt)

A = 3000e^(0.02)(12) = $3813.75

A = 3000e^(0.03)(12) = $4299.99

A = 3000e^(0.045)(12) = $5148.02

A = 3000e^(0.08)(12) = $7835.09

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formula for 2%

A = 3000e^(0.02t)