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skelet666 [1.2K]
2 years ago
9

Some banks now use continuous compounding of an amount invested. In this case, the equation that models the value of an initial

investment of P dollars in t years at an annual
interest rate of r is given by A = Pelt. Using this equation, find the value in 5 years of an investment of $2000 that earns 7% annual interest. (Round your answer to the nearest cent.)
Mathematics
1 answer:
Komok [63]2 years ago
4 0

Answer:

In this case, the equation that models the value of an initial investment of P dollars in t years at an annual interest rate of r is given by A = Pert.

Step-by-step explanation:

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24

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2 years ago
3000 in 5 years 4% interest compounded 4 times a year . How much money should Tracey deposit
EleoNora [17]
Tracy should deposit 1,369.86 to earn 3,000 in 5 years at 4% interest rate compounded 4 times a year

Given:
Compounded Interest = 3000
Term = 5 year
Frequency = 4 times a year
interest rate = 4%
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1,369.86 = Principal
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3 years ago
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