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$600 is deposited in an account that pays 7% annual interest, compounded continuously. What is the balance after 5 years? Please help me!!!

$600 is deposited in an account that pays 7% annual interest, compounded continuously. What is the balance after 5 years? Please help me!!!
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1 vote
$600 is deposited in an account that pays 7% annual interest, compounded continuously. What is the balance after 5 years? Please help me!!!

$600 is deposited in an account that pays 7% annual interest, compounded continuously-example-1
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User Doug Bradshaw
by
7.8k points

2 Answers

1 vote
841.6378292627283848484
answered
User Rifka
by
8.7k points
0 votes

Answer:

841.531038

Explanation:

600 X 1.07^5=841.531038

answered
User Daniel Kurz
by
7.9k points
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