algebra

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Suppose that $4000 is invested at an interest rate of 5.5% per year, compounded continuously. What is the balance after 8 years?

  • algebra -

    FV=4000e^8x.055= 4000e^=6210.83

  • algebra -

    What amount will be in an account after 1.5 years if $4,000 is invested at 5% compounded semiannually?

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