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Lemur [1.5K]
3 years ago
10

How much would $300 invested at 7% interest compounded continuously be worth after 4 years

Mathematics
1 answer:
marissa [1.9K]3 years ago
8 0
The formula of compound continuously is
A=p e^rt
A future value?
P present value 300
R interest rate 0.07
T 4 years
E constant
A=300×e^(0.07×4)
A=396.94 round your answer to get
A=397
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The correct result would be: Mike's tax is 17992.4.
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