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Edgar accumulated $5000 in credit card debt if the interest rate is 50% per year and he does not have to make any payments for five years how much will he go on his debt in five years by compounding continuously.

Respuesta :

Answer:

$ 60 912.46   owed in five years

Step-by-step explanation:

FIFTY percent <====== crazy !    This is .5 in decimal form

FV = Future Value = PV e^(i*t)    

   PV = present value      i = interest in decimal form      t = years

5000 e^(.5 * 5 )  = 60912.46

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