# Calculus

assuming that you wish to have \$19000 in 7 years and that the account earns 6% compounded continuously. Round your answer to the nearest cent.

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1. Continuous compounding has the formula
future amount = present amount * ert
where t=number of periods, and r=rate

So
19000 = A*e(0.06*7)
Solve for A.

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posted by MathMate

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