I need help answering this one re.Homework: 1.3 CompoundInterestQuestion 8, 3.2.41>If $5000 is invested at 3% compounded continuously, what is the amount after 3 years?....The amount after 3 years will be $(Round to the nearest cent.)core.lan.

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Answered: If $5000 is invested at 3% compounded…

Holt Mcdougal Larson Pre-algebra: Student Edition 2012

1st Edition

ISBN:9780547587776

Author:HOLT MCDOUGAL

Publisher:HOLT MCDOUGAL

ChapterCSR: Contents Of Student Resources

Section: Chapter Questions

Problem 7.36EP

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Rachael deposits $1500 into a retirement fund each year. The fund earns 8.2% annual interest, compounded monthly. If she opened her account when she was 19 years old, how much will she have by the time she is 55? How much of that amount will be interest earned?
New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will pay interest per year which is compounded monthly. How much will be in the child's account at his twenty-first birthday?
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You deposit $2500 in a long-term investment in which the interest is compounded monthly. After 5 years, the balance is $3544.06. What is the annual interest rate?

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If $5000 is invested at 3% compounded continuously, what is the amount after 3 years? The amount after 3 years will be $ (Round to the nearest cent.)