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Find the accumulated value of an investment of 5000 at 8% compounded continuously for 4 years.

Solution

Find the accumulated value of an investment of 5000 at 8% compounded continuously for 4 years.

Solution

Amount : 6885.64

Solution steps

Translate the problem into an equation:

A = 5000 e^{0.08 \cdot 4}

5000 e^{0.08 \cdot 4} = 6885.63882 \dots

Round to the nearest hundredth:

6885.64

Amount : 6885.64

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