What is the total amount of 4500 TL with 3,7 % continuously compound interest after 3 years?

Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.CR: Review Problem Set
Problem 56CR
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Question

a) 5328,28
b) 5128,28
c) 5028,28
d) 5228,28

What is the total amount of 4500 TL with 3,7 % continuously compound interest after 3
years?
Transcribed Image Text:What is the total amount of 4500 TL with 3,7 % continuously compound interest after 3 years?
Expert Solution
Step 1

Given

Present value (P)= 4500 TL

Rate (r)=3.7%

Number of years (t)= 3

steps

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