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Popular >

You deposit 6000 in an account earning 2% interest compounded continuously. How much will you have in the account in 10 years?

Solution

You deposit 6000 in an account earning 2% interest compounded continuously. How much will you have in the account in 10 years?

Solution

Amount : 7328.42

Solution steps

Translate the problem into an equation:

A = 6000 e^{0.02 \cdot 10}

6000 e^{0.02 \cdot 10} = 7328.41654 \dots

Round to the nearest hundredth:

7328.42

Amount : 7328.42

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