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42 votes
Some banks now use continuous compounding of an amount invested. In this case, the equation that models the value of an initial investment of P dollars in t years at an annual

interest rate of r is given by A = Pelt. Using this equation, find the value in 5 years of an investment of $2000 that earns 7% annual interest. (Round your answer to the nearest cent.)

User Frenesim
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1 Answer

16 votes
16 votes

Answer:

In this case, the equation that models the value of an initial investment of P dollars in t years at an annual interest rate of r is given by A = Pert.

Explanation:

User Brunodd
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