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March 29, 2017

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suppose you won a contest at the start of 5th grade that deposited $3000 in an account that pays 5% annual interest compounded continuously. how much will you have in the account when you enter high school 4 years later? round to nearest dollar how much will be in the account when you graduate from high school?

  • math - ,

    compounded continuously you have to use e^rt

    Pe^rt

    3000(e)^[(.05)(4)]

  • math - ,

    45

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