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If 5000 is invested at an annual interest rate of 9 percent compounded continuously. How much is available after 7 years?
Updated: 11/2/2022
Wiki User
∙ 14y agoBest Answer
Principal amount 5,000
Interest rate 9 percent per year = 0.09
Continuous compounding
Number of years 7
Future value = P e^rt
Future value = (5000) e^(0.09)(7)
Amount after 7 years = $9,388.05
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∙ 14y agoThis answer is:
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