16-01-2019
Mathematics

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Find the final amount of a $2500 investment after 8 years at %6 interest, compounded continuously

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wolf1728 wolf1728

16-01-2019

Answer:

I have attached the continuously compounded interest formula.

Total = Principal * e ^ (rate * years)

Total = 2,500 * 2.718281828459 ^ (.06 * 8)

Total = 2,500 * 2.718281828459 ^ (.48)

Total = 2,500 * 1.6160744022

Total = 4,040.19

Step-by-step explanation:

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