What is the value of a $200 investment which earns continuous compound interest of 2.5% annually for 20 years? Round your answer down to the nearest cent.
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
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Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
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What is the value of a $200 investment which earns continuous compound interest of 2.5% annually for 20 years? Round your answer down to the nearest cent.
It is given that the initial principal balance is $200 and the rate of interest of 2.5% annually.
The time period is 20 years.
The amount Where P is principal, the rate of interest is 2.5 % per annually, time period t =20.
Substitute P=200, , t=20 and n=1 in ,
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