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Aleks [24]
2 years ago
7

You deposit $800 in an account that pays 2.65% annual interest compounded continuously. What is the balance after 12 years? Use

A(t)=P e^rt because it is compounding continuously.
PLEASE HELPP
Mathematics
1 answer:
balu736 [363]2 years ago
4 0

Answer:Let P = initial investment

     r = annual interest rate (decimal form)

     t = number of years

   A(t) = amount after t years

 

Then, A(t) = Pert

 

A(12.5) = 800e(0.0265)(12.5)

 

             = 800e0.33125

 

             = $1114.17

Step-by-step explanation:

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