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guazet7650
10.04.2020 •
Mathematics
Marta invests $8500 in a new savings account which earns 5.0% annual interest, compounded continuously. What will be the value of her investment after 5 years?
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Ответ:
Given:
Investment = $8500
Rate of interest = 5.0%
Time = 5 years
Compounded continuously
To find:
The value of investment after 5 years.
Solution:
Rate = 5.0%
Rate = 0.05
Compound interest formula if interest compounded continuously:
where P is the investment and r is the rate and t is the time.
The value of
.
The value of the investment after 5 years is $10914.21.
Ответ: