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2 years ago

14

You want a savings account to grow to $5000 in 10 years. If interest is 3.5% compounded continuously, how much should you invest

?

1 answer:

vazorg [7]2 years ago

6 0

Answer:

$3523.44

Step-by-step explanation:

5000 = X × e^(3.5/100)(10)

X = 5000 ÷ e^0.35

X = 3523.440449

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