## If $1,120 is invested at an interest rate of 15% per year and is compounded contonuously, how much will the investment be worth in 7 years?

Question

Lost your password? Please enter your email address. You will receive a link and will create a new password via email.

## Answers ( )

Answer:3,200.57

Step-by-step explanation:

Answer:Step-by-step explanation:we know that

The formula to calculate continuously compounded interest is equal to

where

A is the Final Investment Value

P is the Principal amount of money to be invested

r is the rate of interest in decimal

t is Number of Time Periods

e is the mathematical constant number

we have

substitute in the formula above