34500 at 6.6% for 30 years. what is the future value if the interest is compounded continuously

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Guest May 20, 2014

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Best Answer

The interest formula for continuous compounding is given by:

I = Pe^rt Where P is the amt invested (34500), r is the rate (.066) and t is the time (30)

So we have

I = 34500e^(.066)(30) = $249874.63

Not bad, huh???

CPhill May 20, 2014

CPhill · Answer 1 · 2014-05-20T02:19:58

The interest formula for continuous compounding is given by:

I = Pe^rt Where P is the amt invested (34500), r is the rate (.066) and t is the time (30)

So we have

I = 34500e^(.066)(30) = $249874.63

Not bad, huh???