How much money will you have after 7 years if you deposit $9000 into an account that earns 3% annual interest compounded continuously?

YASH DAVE asked Nov 7, 2023

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25 votes

YASH DAVE asked Nov 7, 2023

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14 votes

We will have the following:

$\begin{gathered} P=(9000)e^((0.03)(7))\Rightarrow P=11103.10254... \\ \\ \Rightarrow P\approx11103.1 \end{gathered}$

So, the amount will be approximately $11 103.1.

Lee Crabtree answered Nov 14, 2023

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