Answered

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If $4500 is invested at 10% annual interest, which is compounded continuously, what is the account balance after 3 years, assuming no additional deposits or withdrawals are made?

Sagot :

mathstudent55

Answer:

$6074.36

Step-by-step explanation:

The formula for continuous compounding is

F = Pe^(rt)

F = $4500 × e^(0.1 × 3)

F = $6074.36

Answer: $6074.36

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