$974.83
$973.38
$403.43
Compound Interest can be defined as the interest that is accumulated on a particular sum of money or investment after a given period of time.
The investment will be worth $974.83 in 10 years.
The formula to solve for the amount an investment will be worth if it is compounded continuously is given as:
A = Pe^rt
P = Principal = $535
R = Interest rate = 10%
T = Time in years = 10 years
First, convert R as a percent to r as a decimal
r = R/100
r = 6/100
r = 0.06 rate per year,
Then solve the equation for A
A = Pe^rt
A = 535(2.71828)^(0.06 x10)
A = $974.83
Therefore, the investment will be worth $974.83 in 10 years.
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Answer: Yes it is true. We can write an equation by setting an expression equal to itself.
Step-by-step explanation:
Let we take an expression say 2x.
Since we know that any expression is equal to itself, so we can write it as 2x=2x, which does not give any solution or we can say this equation has no solution but we can not say it is false because they are actually equal.
Therefore, we can write an equation by setting an expression equal to itself. It would be a true equattion.