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Serggg [28]
4 years ago
5

how much would $500 invested at 4% interest compounded continuously be worth after 7 years? round your answer to the nearest cen

t
Mathematics
1 answer:
Lina20 [59]4 years ago
5 0
P = 500, r = 4% = 0.04 per year, n = 7 years.

A = P(1 + r)ⁿ

A = 500(1 + 0.04)⁷

A ≈ 500(1.04)⁷  ≈ 657.97
<span>
Amount </span> <span>≈ $ 657.97</span><span>
</span>
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