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lilavasa [31]
3 years ago
13

If $6500 is invested at a rate of 6% compounded continuously, find the balance in the account after 3 years

Mathematics
1 answer:
Alex787 [66]3 years ago
6 0

\bf ~~~~~~ \textit{Continuously Compounding Interest Earned Amount} \\\\ A=Pe^{rt}\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill & \$6500\\ r=rate\to 6\%\to \frac{6}{100}\dotfill &0.06\\ t=years\dotfill &3 \end{cases} \\\\\\ A=6500e^{0.06\cdot 3}\implies A=6500e^{0.18}\implies A\approx 7781.91

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