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Please help ASAP How much money does Barbara Mack owe at the end of 4 years if 6% interest is compounded continuously on her $2000 debt? Use the formula A=P e^rt to solve. The a…

Please help ASAP How much money does Barbara Mack owe at the end of 4 years if 6% interest is compounded continuously on her $2000 debt? Use the formula A=P e^rt to solve. The a…
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Please help ASAP

How much money does Barbara Mack owe at the end of 4 years if 6% interest is compounded continuously on her $2000 debt? Use the formula A=P e^rt to solve.

The amount of money owed is $ ? Round to the nearest cent as needed.

User Madpop
by
7.9k points

1 Answer

5 votes
A = P*e^(r*t)
A = 2000*e^(0.06*4)
A = 2,542.49830064302
A = 2,542.50

The answer is 2,542.50
User Dzmitry Paulenka
by
8.2k points
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