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You deposit $500 in an account that pays 5% annual interest compound continuously what is the balance after 3 years

You deposit $500 in an account that pays 5% annual interest compound continuously what is the balance after 3 years
asked 63.2k views
25 votes
you deposit $500 in an account that pays 5% annual interest compound continuously what is the balance after 3 years

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User Kaustubh Karkare
by
7.4k points

1 Answer

6 votes

Answer:

So I= p x r/100 x t

= 500 x 5/100 x 3

= 25 x 3

$75 interest

Balnce will be $575

answered
User Amin Abdolrezapoor
by
7.7k points
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