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How much would $600 invested at 8% interest compound continuously be worth after 3 years ?

User Thet
by
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1 Answer

4 votes

Answer:

$762.75

Explanation:

The amount is given by the formula ...

A = Pe^(rt) . . . where A is the account balance, P is the principal, r is the annual interest rate, and t is the number of years

Filling in the given values, you get ...

A = $600·e^(.08·3) ≈ $762.75

User David Vezzani
by
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