Hann5marimjane1l Hann5marimjane1l

21-11-2016
Mathematics

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FlybynightSavings.com is offering a savings account that pays 28% compounded continuously. How much interest would a deposit of $3,000 earn over 5 years? (Round your answer to the nearest cent.)

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johnkellock johnkellock

23-11-2016

P =$3000, r = 28% , t = 5 years
A = 3000.e^(0.28)(5) = 3000.(4.0551) = $12,165.60

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