Mathematics, 19.04.2021 21:50 Terrydactly

Core Concept Continuously Compounded Interest
When interest is compounded continuously, the amount A in an account after
I years is given by the formula
A = Pent
where P is the principal and r is the annual interest rate expressed as a decimal.
You invest $5000 in an account to save for college.
The account pays 5% annually and compounds continuously.
What would be the account balance after 10 years.

Core Concept

Continuously Compounded Interest
When interest is compounded continuously, the amoun

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Core Concept Continuously Compounded Interest
When interest is compounded continuously, the a...