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12 May, 23:30

If you were to place $2,500 in a savings account that pays 3% interest compounded continuously, how much money will you have after 5 years? Assume you make no other deposits or withdrawals.

A. $2,904.59

B. $2,898.19

C. $431,078.73

D. $2,515.00

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  1. 13 May, 02:01
    0
    Use the formula A (amount) = Pe^rt

    A = $2,500e^ (0.03 x 5)
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