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Popular >

Suppose 5,000 is invested at 6% compounded continuously. What will the accumulated amount be after 3 years?

Solution

Suppose 5, 000 is invested at 6% compounded continuously. What will the accumulated amount be after 3 years?

Solution

Amount : 5986.09

Solution steps

Translate the problem into an equation:

A = 5000 e^{0.06 \cdot 3}

5000 e^{0.06 \cdot 3} = 5986.08681 \dots

Round to the nearest hundredth:

5986.09

Amount : 5986.09

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