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How would I calculate this

How would I calculate this-example-1

1 Answer

5 votes

Answer:

$18,413.01

Explanation:

Use the formula for interest compounded continuously:

A = Pe^(rt)

where P is the principal invested ($14,000), r is the annual interest rate (.0685), and t is the number of years (4).

A = $14,000·e^(.0685·4) = $14,000·e^0.274

A ≈ $18,413.01

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