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valkas [14]
4 years ago
5

Suppose you invest $5000 at an annual interest rate of 6.3% compound continuously. How much will you have in the account after 3

years?
Mathematics
1 answer:
FinnZ [79.3K]4 years ago
7 0
Use the formula for continuous compounding:  A = Pe^(rt), where r is the interrest rate as a decimal fraction.  Then, 

A = $5000e^(0.063*3) = $6040.20 (answer)
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