6-2 Part 1: Interest Compounded Continuously

Kimi invests $4,000 at 3% interest compounded continuously. How much money will she have in 4 years?

(a)  

Dash invested $10,000 at 3% interest compounded continuously. How much will he have after 8 years?

(a)  

Damara invests $3500 at 2% compounded continuously for 5 years. How much will she have in her account after 5 years?

(a)  

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

What is 7.25% converted to a decimal?

• .725
• 0.725
• 0.0725
• 7.25

Convert .1% into a decimal number.

• 1
• .01
• .001
• .1

Convert 150% into a decimal number.

• .15
• 1.5
• 15
• .015

Which of these circumstances would require the formula A=Pe^rt ?

• Daily
• Monthly
• Quarterly
• Continuously

Mr. T invested $15,000 in an account that pays 5% interest compounding continuously, how much is in the account after 5 years? 

• $15,500.50
• $19,260.38
• $19,260.40
• $21,500.25

P = 26,000 | Rate = 2.4% | 4 years | Compounded Continuously | Amount owed???

• $2,496
• $28,496
• $3,406,924
• $28,619.74