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3 September, 12:32

Find the interest earned on a $10,000 balance for nine months at 3 1/4% interest compounded continuously?

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  1. 3 September, 12:50
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    Total = Principal * e^ (rate * years)

    Total = 10,000 * e^ (.0325 *.75)

    Total = 10,000 * 1.0246744988

    Total = 10,246.75

    Therefore the interest = 246.75
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