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goldfiish [28.3K]

4 years ago

12

If you deposit $750 into a bank account that pays 1.75% interest compounded continuously, how much will be in the account after

5 years?

1 answer:

lisabon 2012 [21]4 years ago

5 0

is it compounded yearly? if so,

CI = p(1+ r/100)^n

= 750 (1+ 1.75/100)^5

= $818.00 (nearest 10 cents)

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