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Mathematics 18 Online
OpenStudy (anonymous):

Find the total amount of an investment of $5000 at 6% interest compounded continuously for 8 years. Round your answer to the nearest hundredth

jimthompson5910 (jim_thompson5910):

Hint: use the formula A = Pe^(r*t)

jimthompson5910 (jim_thompson5910):

In this case P = 5000 r = 0.06 t = 8 Note: the 'e' is like pi, but in this case, e = 2.71828...

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