Natalie invested $1,200 in an account paying an interest rate of 6.4% compounded continuously. Assuming no deposits or withdrawa
ls are made, how much money, to the nearest dollar, would be in the account after 17 years?
1 answer:
Answer:
FV=$3,445
Step-by-step explanation:
FV=PV(1+i)^n (FV: Future value, PV: Present value)
i=0.064
n=17
FV=1200(1+0.064)^17
FV=3444.9975
FV=$3445.00
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