roar4kotap9ni5r roar4kotap9ni5r

01-06-2018
Mathematics

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If $10000 is invested at a rate of 2.3% compounded continuously, find the balance in the account after 15 years.

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McChuck McChuck

07-06-2018

$10000 compounded continuously at a rate of 2.3% for 15 years will yield a final amount of $14119.9

[tex]A=10000* e^{(0.023*15)} [/tex]

[tex]A=10000(2.718281828459045)^{(0.345)}[/tex]

[tex]A=14119.9[/tex]

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