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BabaBlast [244]
3 years ago
12

You open a savings account and deposit $1,000. After 1 year of earning continuously compounded interest.

Mathematics
1 answer:
Alenkinab [10]3 years ago
3 0

Answer:

Step-by-step explanation:

1036.66=1000e^{2r}\\ \\ r=(ln(1.03666))/2\\ \\ r=0.018\\ \\ b(x)=1000e^{(0.018x)}\\ \\ b(10)=1000e^{0.18}=\$ 1197.22

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