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Mach768
Mach768 asked in Education & ReferenceHomework Help · 7 years ago

Stupid Interest Math Question Help would be CHERISHED! Help a brotha out?

If you invest $300 in a fund earning 8% interest anually, how much will you have after 25years if the interest is compounded.....

a. ...... annually?

b. ...... monthly?

c. ...... continuously?

Show steps please THANKYOU!

1 Answer

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  • Bryce
    Lv 7
    7 years ago

    300*1.08^25=$2,054.54

    .08/12≈0.006667

    12*25=300

    300*1.006667^300=$2,202.05

    S=Pe^(rt)

    300*e^(0.08*25)=$2,216.72

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