Need help in maximum value
1 answer:
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Answer:
$621.08
Step-by-step explanation:
The formula for the amount (A) resulting from principal P being invested at rate r continuously compounded for period t is ...
A = Pe^(rt)
Filling in the given numbers and doing the arithmetic, we get ...
A = $400e^(0.055·8) ≈ $621.08
