Continuously Compounded Interest

If $1,000 is invested at 16% interest, compounded continuously, for five years, what is the ending balance?

• $1,225,54
• $2,225.54
• $22,255.40
• $225.54

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.LE.B.5

Willie invests $8,515 in a retirement account with a fixed annual interest rate of 5% compounded continuously. What will the account balance be after 20 years?

• $22,017.32

• $23,146.17

• $20,021.95

• $20,943.52

Kathryn invests $7,612 in a retirement account with a

fixed annual interest rate of 6% compounded continuously. How long will it take for the account balance to reach

$17,632.19? Round to the nearest WHOLE NUMBER.

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CCSS.HSF.LE.A.4

Micaela invests $1,045 in a savings account with a

fixed annual interest rate of 9% compounded continuously. About how long will it take for the account balance to reach $1,793.23?

• 5

• 6

• 7

• 8

Dan invests $6,570 in a savings account with a

fixed annual interest rate compounded continuously. After 5 years, the balance reaches $8,024.62. What is the approximate interest rate of the account?

• 2%

• 3%

• 4%

• 5%

Jenny invests $7,530 in a savings account with a fixed

annual interest rate compounded continuously. After 8

years, the balance reaches $12,169.04. What is the approximate interest

rate of the account?

• 4%

• 5%

• 6%

• 7%

Natalie invests $4,050 in a retirement account with a fixed

annual interest rate compounded continuously. After

16 years, the balance reaches $12,412.66. What is the approximate interest rate of the account?

• 7%

• 8%

• 9%

• 10%

Chelsea put $7500 into an account paying 5% compounded continuously. She now has $10,643.01. Approximately how long has the money been in the account?

• 7 years

• 6 years

• 5 years

• 4 years

The poplulation of Eden is growing continuously at a rate of 1.9%. If the current population is 15,230, about how many years to reach 20,000?

• 31
• 2
• 15
• 68

Tags

CCSS.HSF.LE.A.4

Give a decimal approximation of the number e to 4 decimal places.