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sveta [45]
2 years ago
9

A principal amount of $4,700 is deposited into an account paying interest at a rate of 3%, continuously compounded. What will be

the account balance after 3 years?
A. $5,142.62
B. $5,882.09
C. $6,430.29
D. $8,010.51
Mathematics
1 answer:
Ronch [10]2 years ago
8 0

The account balance after 3 years if the interest is compounded continuously is $5,142.62

<h3>How to find compound interest?</h3>

  • Principal, P = $4,700
  • Time,t = 3 years
  • Interest rate, r = 3%

r = 3/100

r = 0.03 rate per year,

A = Pe^rt

A = 4,700.00(2.71828)^(0.03)(3)

= 12,775.916^0.09

A = $5,142.62

Therefore, the account balance after 3 years if the interest is compounded continuously is $5,142.62

Learn more about compound interest:

brainly.com/question/24924853

#SPJ1

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A student is considering publishing a new magazine aimed directly at owners of Japanese automobiles. He wanted to estimate the f
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Check Explanation

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c) The confidence interval contradicts the politician's claim that "Half of all cars in the United States are made in Japan" because the proportion in the politician's claim, (0.50), does not lie within the range of values that our confidence interval says the true population proportion can take on; (0.29938661, 0.46984416).

0.50 lies outside of the confidence interval obtained for the true population proportion of US automobiles that are made in Japan, hence, the confidence interval contradicts the politician's claim.

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3 years ago
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