1136.23
5259.81
I suspect that it will be 6.3!
556.34
556.34
There is no such thing as "compounded continuously". No matter how short it may be, the compounding interval is a definite amount of time and no less.
1136.23
500x1.03^6=597.02(61482645)
is given by the formula A = Pe^rt
It is 14.9 percent.
If 1500 dollars is invested at an interest rate of 3.5 percent per year compounded continuously, after 3 years it's worth $1666.07, after 6 years it's $1850.52, and after 18 years it's worth $2816.42.
Five years
5259.81
The question as stated makes no sense.Does compounded continuously mean that every tiniest moment of time the interest is 6 per cent? In that case the answer is infinite. Even if you consider the Planck time as the smallest unit of time, then far more than all the money on earth.Alternatively, the interest rate is such that at the end of one year it is equivalent to 6%. In that case, for periods of whole years, it does not matter whether the interest is compounded continuously.The 160 would be worth 321.95The question as stated makes no sense.Does compounded continuously mean that every tiniest moment of time the interest is 6 per cent? In that case the answer is infinite. Even if you consider the Planck time as the smallest unit of time, then far more than all the money on earth.Alternatively, the interest rate is such that at the end of one year it is equivalent to 6%. In that case, for periods of whole years, it does not matter whether the interest is compounded continuously.The 160 would be worth 321.95The question as stated makes no sense.Does compounded continuously mean that every tiniest moment of time the interest is 6 per cent? In that case the answer is infinite. Even if you consider the Planck time as the smallest unit of time, then far more than all the money on earth.Alternatively, the interest rate is such that at the end of one year it is equivalent to 6%. In that case, for periods of whole years, it does not matter whether the interest is compounded continuously.The 160 would be worth 321.95The question as stated makes no sense.Does compounded continuously mean that every tiniest moment of time the interest is 6 per cent? In that case the answer is infinite. Even if you consider the Planck time as the smallest unit of time, then far more than all the money on earth.Alternatively, the interest rate is such that at the end of one year it is equivalent to 6%. In that case, for periods of whole years, it does not matter whether the interest is compounded continuously.The 160 would be worth 321.95
It is approx 8.66%
I suspect that it will be 6.3!
556.34