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13 September, 22:21

How much money invested at 5% compounded continuously for 3 years will result in $820

Can someone explain how to do this?

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  1. 13 September, 22:33
    0
    820=P (1.05) ^3

    P=708.35

    I'm sorry I don't know how explain but that is the answer to the problem; 708.35
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