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OpenStudy (anonymous):
If $535 is invested at an interest rate of 6% per year and is compounded continuously, how much will the investment be worth in 10 years?
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OpenStudy (anonymous):
856
OpenStudy (anonymous):
Since the compounding is continuous, the base must e. \[A=Pe ^{rt}\] So \[A=535e ^{(.06)(10)}\] Which is $974.83
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