Posted by **phil** on Wednesday, February 20, 2013 at 12:11am.

Phil invested $150 at an annual rate of 4% compounded continuously, what amout to the nearest cent will be in his account after 2 years? Graph the amount in his account over the first 8 years.

- math -
**Henry**, Thursday, February 21, 2013 at 12:50pm
P = Po*e^rt

Po = $150 = Initial investment.

rt = (4%/100%)/yr * 2yrs = 0.08.

Plug the above values into the given Eq

and get:

P = $162.49.

Use the following data for graphing:

(X,Y) or

(T,P).

(1,156.12).

(2,162.49).

(3,169.12).

(4,176.03).

(5,183.21).

(6,190.69).

(7,198.47).

(8,206.57).

## Answer this Question

## Related Questions

- Math - An initial amount of $2900 is invested in an account at an interest rate...
- math - If $425 is invested in an account that earns annual interest of 7.5%, ...
- Algebra - If $625 is invested in an account that earns annual interest of 5.5%, ...
- ALGEBRA - If $835 is invested in an account that earns annual interest of 4.5%, ...
- ALGEBRA - If $835 is invested in an account that earns annual interest of 4.5%, ...
- ALGEBRA - If $835 is invested in an account that earns annual interest of 4.5%, ...
- ALGEBRA - If $450 is invested in an account that earns annual interest of 3.5%, ...
- algreba with application - If $795 is invested in an account that earns annual ...
- math - a bank account earns 7% annual interest compounded continuously. you ...
- Compound interest - Hello My teacher skipped over this and I have no clue how to...

More Related Questions