What is the future value of investing $9,000 for 7 years at a continuously compounded rate of 11%?

Question

Quizplus · Accepted Answer

The future value of an investment can be calculated using the formula:FV = PV * e^(rt)where:PV is the present value of the investmentr is the annual interest ratet is the number of yearsIn this case, we have:PV = $9,000r = 11%t = 7 yearsPlugging these values into the formula, we get:FV = $9,000 * e^(0.11 * 7)FV = $9,000 * e^0.77FV = $19,437.90Therefore, the future value of investing $9,000 for 7 years at a continuously compounded rate of 11% is $19,437.90.

What Is the Future Value of Investing $9,000 for 7