consider an investment where 42000 is invested for 10 year at 6% compounded continuously. how much will this investment be worth after 10 year . what is the total amount earned in compound interest

Solution

Solution

Amount : 76528.99

Amount : 76528.99

Solution steps

Translate the problem into an equation:

A = 42000 e^{0.06 \cdot 10}

42000 e^{0.06 \cdot 10} = 76528.98961 \dots

Round to the nearest hundredth

Amount : 76528.99

Amount : 76528.99

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