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28 February, 08:42

What is the total amount for an investment of $100 invested at 3.5% for 8 years and compounded continuously?

a) $131.68

b) $135.44

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Answers (1)
  1. 28 February, 10:23
    0
    A=P e^ rt P = 100

    r =.035

    t = 8

    So we have A=100 e^ 8*.035 A=100 e^.28 A=132.31
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