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Financial Math
Types of Compound Interest — Quiz
Question 9
9
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Types of Compound Interest — Quiz
Question 9 • Financial Math
Wyatt deposits $1,500 in a bank offering an annual interest rate of 4.75% If the interest is compounded continuously and Wyatt keeps the money in the bank for 3 years, how much will Wyatt have at the end of the period? A=Pe^rt
Answer
A
1 dollars comma 521 point 5 3
B
6 dollars comma 236 point 7 9
C
1 dollars comma 502 point 1 4
D
1 dollars comma 729 point 7 3
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