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Julli [10]
3 years ago
10

FlybynightSavings.com is offering a savings account that pays 29% compounded continuously. How much interest would a deposit of

$2,000 earn over 15 years? (Round your answer to the nearest cent.)
Mathematics
1 answer:
Alinara [238K]3 years ago
8 0
Present value, P = 2000
interest rate, i = 29% continuous     (sounds VERY generous, pl. chk for typo)
Number of periods, n = 15 years

Future value
F=Pe^{it}
=2000e^{.29*10}
=36348.29   to the nearest cent
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