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7 March, 19:44

How much would $125 invested at 8% interest compounded continuously be worth after 16 years? Round your answer to the nearest cent. Do not include units in your answer.

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  1. 7 March, 20:38
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    The formula is

    A=p e^rt

    A future value?

    P present value 125

    E constant

    R interest rate 0.08

    T time 16 years

    A=125*e^ (0.08*16)

    A=449.58 round your answer to get

    A=450
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