3/22 AMDM: Interest Compounded Continuously

Kimi invests $4,000 at 3% interest compounded continuously. How much money will she have in 4 years? Round to the nearest cent (2 decimal places). It will accept the answer with or without a $.

(a)  

Dash invested $10,000 at 3% interest compounded continuously. How much will he have after 8 years? Round to the nearest cent (2 decimal places). It will accept the answer with or without a $.

(a)  

Damara invests $3500 at 9.5% compounded continuously for 7years. How much will she have in her account after 7 years? Round to the nearest cent (2 decimal places). It will accept the answer with or without a $.

(a)  

If $1,000 is invested at 16% interest, compounded continuously, for five years, what is the ending balance? Round to the nearest cent (2 decimal places).

• $1,225.54

• $2,225.54
• $2,225.55

• $2225.50

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? Round to the nearest cent (2 decimal places).

• $23,146.16

• $23,146.17

• $23,146.20

• $20,943.52

Adam invests $5,208 in a savings account with a fixed annual interest rate of 8% compounded continuously. What will the account balance be after 8 years? Round to the nearest cent (2 decimal places).

• $9,876.87

• $8,541.12

• $9,876.90

• $3,333.12

Mr. T invested $15,000 in an account that pays 5% interest compounding continuously, how much is in the account after 5 years? Round to the nearest cent (2 decimal places).

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

• $21,500.25

Jessica invests $3,948 in a savings account with a

fixed annual interest rate of 9% compounded continuously. What will the account balance be after 11 years? Round to the nearest cent (2 decimal places).

• $8,786.44

• $10,625.00

• $10,624.99

• $10,624.10

Chelsea invests $2,845 in a savings account with a

fixed annual interest rate of 11.2% compounded continuously. What will the account balance be after 66 months? Round to the nearest cent (2 decimal places). It will accept the answer with or without a $.

(a)