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Suppose you invest $1,500 at an annual interest rate of 5% compounded continuously how much will you have in the account after 4 years?

User Unpollito
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1 Answer

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compounded continously is

A=Pe^(rt)
P=principal
r=rate
t=time

given
P=1500
r=5%=0.05
t=4


A=1500e^((0.05)(4))

A=1500e^(0.2)
A=1832.104

yu wil have $1832.10

User Michael Rowe
by
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