FlybynightSavings.com is offering a savings account that pays 28% compounded continuously. How much interest would a deposit of
$3,000 earn over 5 years? (Round your answer to the nearest cent.)
1 answer:
P =$3000, r = 28% , t = 5 years
<span>A = 3000.e^(0.28)(5) = 3000.(4.0551) = $12,165.60</span>
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