What is the future value of investing $9,000 for 3/4 of a year at a continuously compounded rate of 11%?

Name: What is the future value of investing $9,000 for 3/4 of a year at a continuously compounded rate of 11%?
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Question

Quizplus · Accepted Answer

The future value of an investment with continuous compounding is calculated using the formula FV = P * e^(rt), where P is the principal amount, r is the annual interest rate, and t is the time in years. For this problem, FV = 9000 * e^(0.11 * 0.75) = 9000 * e^(0.0825) ≈ 9,774.

What Is the Future Value of Investing $9,000 for 3/4