Respuesta :
Oh gosh i have not done this since 8th grade! Ok I think it is, A= $ 12,948.1
Im sorry if it is wrong, A=P(1+r/n) ^nt
Im sorry if it is wrong, A=P(1+r/n) ^nt
The money must you invest now at 4.4% interest compounded continuously in order to have $10,000 at the end of 6 years is 7,727.97 .
What is the Compound interest ?
Compound interest is an interest accumulated on the principal and interest together over a given time period. The interest accumulated on a principal over a period of time is also accounted under the principal.
Formula of Compound interest:
Amount = [tex]Principal (1+ \frac{rate}{100} )^{t}[/tex]
where,
t as time in years
According to the question
Rate of interest = 4.4% compounded continuously
Time in years = 6
Amount = $10,000
Now,
By using Formula of Compound interest:
Amount = [tex]Principal (1+ \frac{rate}{100} )^{t}[/tex]
substituting the value in formula
10,000 = [tex]Principal (1+ \frac{4.4}{100} )^{6}[/tex]
10,000 = 1.294 * Principal
Principal = 7,727.97
Hence, The money must you invest now at 4.4% interest compounded continuously in order to have $10,000 at the end of 6 years is 7,727.97 .
To know more about Compound interest here:
https://brainly.com/question/14295570
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