This petite girl, short as can be is gonna jump and be free -Rachie [My R]
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Given:
Principal value = $240,000
Rate of interest = 6% compounded continuously.
Time = 30 years
To find:
The amount after interest.
Solution:
The formula for amount after continuous compounding the interest is:
Where, P is principal, r is rate of interest and t is the number of years.
Putting , we get
Therefore, Martins will pay $1451,915.39 for the house, including interest.