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24 December, 04:38

You invest $4,200 in an account that pays an interest rate of 6.5%, compounded continuously

calculate the balance of your account after 10 years. round your answer to the nearest hundredth

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  1. 24 December, 04:57
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    A=4200*e^.65

    A=$8045.27

    This is almost doubling, and the rule of 72 would predict doubling in 11 years, so the answer makes sense.
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