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3 years ago

How much would $500 invested 4% interest compounded continuously be worth after 7 years?

Mathematics

1 answer:

mixas84 [53]3 years ago

6 0

Answer:

$661.56

Step-by-step explanation:

Formula for compounded interest -> I=Pe^(rt)

I=500(e^(0.04*7))

I=500(e^0.28)

I=661.56

So the value after 7 years would be $661.56

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