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26 March, 12:45

Find the amount in a continuously compiunded account for the following condition. Principal, $4000; Annual interest rate, 5.1%; time, 2 years

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  1. 26 March, 12:55
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    A = P*e^ (rt)

    Here,

    A = $4000*e^ (0.051*2) = $4000*e^1.02 = $4000 (2.773) = $11092.78

    Note: This seems very high to me.
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