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suppose an investment earns 1.3% interest compounded continuously. find the future value of a $5200 investment after 17 years. round your answer to the nearest cent, if necessary.

User Fsdf Fsd
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Final answer:

To find the future value of the investment, use the formula A = P * e^(rt). Plugging in the values, you get a future value of approximately $6109.43 (rounded to the nearest cent).

Step-by-step explanation:

To find the future value of a $5200 investment after 17 years with 1.3% interest compounded continuously, we use the formula:

A = P * e^(rt)

Where:

Plugging in the values, we have:

A = 5200 * e^(0.013 * 17)

Calculating this, we find that the future value of the investment is approximately $6109.43 (rounded to the nearest cent).

User Roman Puchkovskiy
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