Algebra 2

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Suppose you invest $1600 at an annual interest rate of 7.9% compounded continuously. How much will you have in the account after 10 years?
A. $35,254.34
B. $3,525.43
C. $3,435.91
D. $17,315.27

  • Algebra 2 -

    B = P*e^(Yr)
    where B is balance, P is principle = 1600; e is the number e; Y is the number of years; and r is the rate 0.079

    Plug these numbers in and solve for the answer.

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