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15 December, 22:32

Stan borrows $5,500 at a rate of 12% interest per year. What is the amount due at the end of 5 years if the interest is compounded continuously?

In your final answer, include your calculations. Show all of your work.

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  1. 15 December, 23:57
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    5500 * 0.12 = 660

    660 * 5 = 3300

    3300 + 5500 = 8800

    8800 is due at the end of 5 years
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