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If $535 is invested at an interest rate of 7% per year and is compounded continuously, how much will the investment be worth in 15 years? use the continuous compound interest formula: a = pert.
$1,625.93
$1,528.84
$666.65
$573.79

Respuesta :

abidemiokin

The amount the investment will worth after 15 years is $1528.84

Compound interest

This is the amount of money added on an amount invested. Mathematically it is expressed as:

A = Pe^rt

Given the following parameters

  • P =$535
  • r = 7% = 0.07
  • t  15years

Substitute

A = 535e^0.07(15)

A = 535(2.85765)

A = 1528.84

Hence the amount the investment will worth after 15 years is $1528.84

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

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