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Ivanshal [37]
4 years ago
10

535 invenstment compounded continuosly for 10 years at 6 percent

Mathematics
1 answer:
natka813 [3]4 years ago
3 0

Answer:

\$974.83  

Step-by-step explanation:

we know that

The formula to calculate continuously compounded interest is equal to

A=P(e)^{rt}  

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest in decimal  

t is Number of Time Periods  

e is the mathematical constant number

we have  

t=10\ years\\ P=\$535\\ r=0.06  

substitute in the formula above  

A=\$535(e)^{0.06*10}=\$974.83  

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