driannaaugustin driannaaugustin
  • 15-11-2021
  • Mathematics
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Find the accumulated value of an investment of $2000 at 8% compounded continuously for 4 years

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jdoe0001 jdoe0001
  • 15-11-2021

[tex]~~~~~~ \textit{Continuously Compounding Interest Earned Amount} \\\\ A=Pe^{rt}\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill & \$2000\\ r=rate\to 8\%\to \frac{8}{100}\dotfill &0.08\\ t=years\dotfill &4 \end{cases} \\\\\\ A=2000e^{0.08\cdot 4}\implies A=2000e^{0.32}\implies \boxed{A\approx 2754.26}[/tex]

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