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OleMash [197]
3 years ago
6

if $5,000,000 isinvested at 4% interest compunded continuously, how much willl the investment be worth in 30 years

Mathematics
1 answer:
Katarina [22]3 years ago
8 0
The answer is $16216987.55 (IMPORTANT: This is the answer assuming that the interest rate is annually. The quesiton says 'continuously' so I was a bit confused)

To solve this problem, you can use the compound interest formula. 

Here it is once you plug in the numbers: A = 5,000,000 ( 1 + .04) ^30

Just solve the equation to find the solution.


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