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How much would $500 invested at 5% interest compounded continuously be worth after 8 years

How much would $500 invested at 5% interest compounded continuously be worth after 8 years
asked 21.0k views
3 votes
How much would $500 invested at 5% interest compounded continuously be worth after 8 years

asked
User Virushan
by
8.6k points

1 Answer

4 votes
A=Pe^rt
A: Total Amount
P:Principle ($500)
R: Rate 5% in decimal form
T: Time in years

A=500e^(.05*8)

A=745.912348821
answered
User Khajaamin
by
8.0k points
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