Use the continuous compound interest formula to find the indicated value. A= $7,500 r= 6.66% t= 7 years P= ??? Round to two decimal points as needed.

andg17o7 2022-09-13 Answered
Use the continuous compound interest formula to find the indicated value. A= $7,500 r= 6.66% t= 7 years P= ??? Round to two decimal points as needed.
You can still ask an expert for help

Expert Community at Your Service

  • Live experts 24/7
  • Questions are typically answered in as fast as 30 minutes
  • Personalized clear answers
Learn more

Solve your problem for the price of one coffee

  • Available 24/7
  • Math expert for every subject
  • Pay only if we can solve it
Ask Question

Answers (1)

zagrebova1c
Answered 2022-09-14 Author has 10 answers
Given: A = $ 7500 r = 6.66 % = 0.0666 t = 7  years
Compounded continuously
A = P e r t P = 7500 e 0.0666 × 7 P = $ 4705.3634 P = $ 4705.36

We have step-by-step solutions for your answer!

Expert Community at Your Service

  • Live experts 24/7
  • Questions are typically answered in as fast as 30 minutes
  • Personalized clear answers
Learn more

You might be interested in

asked 2022-08-07
24. Sarah’s parents are filling their swimming pool. Her pool holds 22,000 gallons. It takes 16 hours to fill. What unit would you use to represent the rate that water is flowing into the pool?
a. Hours
b. Gallons
c. gallons per hour
d. gallons per minute
25. What is (2.5 X 102)(6.3 X 105) in scientific notation?
a. 1.575 X 107
b. 1.575 X 106
c. 1.575 X 1010
d. 1.575 X 108
asked 2022-07-25
Solve
u + v + w = 2
u +2v + 3w = 1
v + 2w = -1
Ans: u = 4, v = -3, w = 1
Show how these answers are found
asked 2022-05-20
How do you solve and graph 12 > d 12 ?
asked 2021-09-17

Statement showing a relationship between numbers that are not necessarily equal using the symbols >,<,,, or q are called _.
1) inferences
2) inconsistencies
3) unequals
4) inequalities

asked 2022-06-20
How do you solve 50 > w 4 ?
asked 2022-08-03
Find an equation of the line which passes through the point (4,7) and has slope 3.
asked 2022-08-08
Angel’s scores on the first three algebra quizzes are 78, 66, and 94. What score must he earn on the fourth quiz to earn an average quiz score of 80? Please set up and solve this problem following the steps below:
A. Define the unknown quantity in terms of one variable.
B. Translate the question into an equation.
C. Solve the equation, showing all work.
D. Write a complete answer to the question asked.