The Compound Amount When an Investment Is Compounded Continuously Is

question 37

Multiple Choice

The compound amount when an investment is compounded continuously is expressed by the formula A = Peni, where A is the compound amount, P is the principal, n is the number of years, and i is the interest rate per year. Find the compound amount of an investment of $1,000 at an interest rate of 8% for 20 years if it is compounded continuously.

• A)$4,953.03
• B)$470.00
• C)$39,810.72
• D)$4,660.96

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