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24 March, 23:53

You invest 2,600 in an account that pays an interest rate of 8.5% compounded continuously. Calculate the balance of your account after 5 years

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  1. 25 March, 00:19
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    The formula is

    A=p e^rt

    A future value?

    P present value 2600

    R interest rate 0.085

    T time 5years

    E constant

    A=2,600*e^ (0.085*5)

    A=3,976.94
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