36salehdaoud 36salehdaoud

24-04-2020
Mathematics

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You want a savings account to grow to $5000 in 10 years. If interest is 3.5% compounded continuously, how much should you invest?

Respuesta :

amna04352 amna04352

24-04-2020

Answer:

$3523.44

Step-by-step explanation:

5000 = X × e^(3.5/100)(10)

X = 5000 ÷ e^0.35

X = 3523.440449

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