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Softa [21]
4 years ago
9

Find the amount in a continuously compounded account for the following condition. ​Principal, ​$5000​; Annual interest​ rate, 5.

3​%; ​time, 3 years
The balance after 3 years is:

Mathematics
1 answer:
olya-2409 [2.1K]4 years ago
8 0
Total = Principal * e^(rate*years)
Total = 5,000 * 2.718281828^(.053*3)
Total = 5,000 * 2.718281828^.159
Total = 5,000 * <span> <span> <span> 1.1723379466 </span> </span> </span>
<span>Total = 5,861.6</span>9


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