mrskhg3395
21.05.2020 •
Mathematics
Hunter and Cindy deposit $800.00 into a savings account which earns 13% interest
compounded continuously. They want to use the money in the account to go on a trip in 3
years. How much will they be able to spend?
Use the formula A = pe", where A is the balance (final amount), P is the principal (starting
amount), e is the base of natural logarithms (~2.71828), r is the interest rate expressed as a
decimal, and t is the time in years.
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