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anonymous

  • 5 years ago

if $7000 is invested at a rate of 6% compounded continuously, find the balance in the account after 7 years

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  1. anonymous
    • 5 years ago
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    this is a simple problem just google the formula for compound interest and substitute your values.

  2. anonymous
    • 5 years ago
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    a= p(1+r/t)^nt

  3. anonymous
    • 5 years ago
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    but i dont know how to plug it in like you said

  4. anonymous
    • 5 years ago
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    a= p(1+r/t)^nt ,this for compouded semiannually for compounded continuously you use a=7000.e^(0.06*7)

  5. anonymous
    • 5 years ago
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    I hpoe it help

  6. anonymous
    • 5 years ago
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    for compouded semiannually you plug a=7000(1+0.06/2)^(2*7) for compounded monthly you use this; a= 7000(1+0.06/12)^(12*7)

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