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Answered

If $535 is invested at an interest rate of 6% per year and is compounded continuously, how much will the investment be worth in 10 years? use the continuous compound interest formula: a = pert.

Answer :

Abidemiokingo

The investment will be $958.10 after 10 years

Compound interest?

The formula for calculating the compound interest is expressed as:

A = P(1+r)^n

where:

  • P is the amount invested  = $535
  • r is the rate (in decimal) = 6% = 0.06
  • t is the time = 10 years

Substitute the given parameters into the formula to hav:

A = P(1+r)^n

A = 535(1+0.06)^10

A =535(1.06)^10

A = 958.10

Hence the investment will be $958.10 after 10 years

Learn more on compound interest here: https://brainly.com/question/24924853

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