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17 August, 21:11

If $3 million is invested at 6% interest compounded continuously how much will the investment be worth in 35 years

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  1. 17 August, 21:32
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    P=$3000000, r=6%, n=365 and t=35 years

    A = 3000000 (1 + 0.06/365) ³⁶⁵ˣ³⁵

    A = 3000000 * 1.000164¹²⁷⁷⁵

    A = 3000000 * 8.124858

    A = 24374574

    A = P + I

    2437457.4 = 3000000+I

    I = 2437457.4-3000000

    I = 21374574
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