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jek_recluse [69]
3 years ago
10

Jane plans to invest $500 at 8.25% interest, compounded continuously. After 14 years, how much money has she accumulated? Has he

r money doubled or tripled?
Mathematics
1 answer:
kenny6666 [7]3 years ago
8 0
Principal amount = P = $500
Time = t = 14 years
Interest rate = r = 8.25% = 0.0825
Amount accumulated = A

Using the formula of compound interest:

A=P e^{rt}

Substituting the values, we get:

A=500 e^{0.0825(14)}=1587.01


Thus the amount accumulated after 14 years will be $1587.01. Compared to the original amount of $500, this amount is tripled. 
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Explanation:

Types of infinitives:

Five types of infinitives are as follow:

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