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Andrew invested $3,100 in an account paying an interest rate of 2. 1% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account
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Andrew invested $3,100 in an account paying an interest rate of 2. 1% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 16 years?.

User Chopikadze
by
7.7k points

1 Answer

5 votes

Answer: 4,322.883

Explanation:

Assuming that the interest rate is per year:

4,322.883

User Ross Dargan
by
8.2k points
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