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Anthony has $3750 that he wants to invest. He plans to leave the money there for 9 years. If his investment gets 6.35% interest compounded continuously, how much will he have at the end of 9 years? Round
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Anthony has $3750 that he wants to invest. He plans to leave the money there for 9 years. If his investment gets 6.35% interest compounded continuously, how much will he have at the end of 9 years? Round your answer to the nearest whole number?​

User Tdranv
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1 Answer

2 votes

Answer:


A= P(1+(r)/(n))^(nt)

P = 3750

r = 6.35% = 0.0635

n = 365

t = 9


A= 3750(1+(0.0635)/(365) )^(365*9)\\\\


= 3750(1+(0.0635)/(365))^(3285) = 6640.63

Answer = $6641

User David Tzoor
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