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10 November, 16:20

If you were to place 2500 in a savings account that pays 5% interest compounded continuously, how much money will you have after 10 years

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  1. 10 November, 17:12
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    The formula is

    A=p e^rt

    A future value?

    P present value 2500

    E constant

    R interest rate 0.05

    T time 10 years

    A=2,500*e^ (0.05*10)

    A=4,121.80
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