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Suppose you invest $950 at an annual interest rate of 6.5% compounded continuously. How much will you have in the account after 10 years? Round the solution to the nearest dollar

Respuesta :

mathmate
present value, P = 950
interest rate, i = 6.5% continuous
Number of periods, n = 10 years

Future value
[tex]F=Pe^{it}[/tex]
[tex]=950e^{.065*10}[/tex]
[tex]=1819.76[/tex]   to the nearest cent

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