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anonymous

  • 5 years ago

You invest $4,900 in an account that pays an interest rate of 5.5%, compounded continuously. Calculate the balance of your account after 6 years. Round your answer to the nearest hundredth

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  1. anonymous
    • 5 years ago
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    31062.2941 ?

  2. amistre64
    • 5 years ago
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    pert again....2 minutes ago amistre64 252 9 3 medals for this answerer. Give Medal Medal GivenUndo 4900(e^(.055)(6))a minute ago amistre64 252 9 3 medals for this answerer. Give Medal Medal GivenUndo plug that into google and the calc will spit back an answer

  3. anonymous
    • 5 years ago
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    i did & i got 31062.2941

  4. amistre64
    • 5 years ago
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    it read it wring; gotta tell it to keep the exponents together

  5. amistre64
    • 5 years ago
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    4900 * (e^(.055 * 6)) = 6815.743

  6. amistre64
    • 5 years ago
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    at first it did (e^.055)*6 :)

  7. anonymous
    • 5 years ago
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    i still didn't get that answer

  8. amistre64
    • 5 years ago
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    odd....cause thats a copy and paste off the google itself...

  9. anonymous
    • 5 years ago
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    maybe i did something wrong lol

  10. amistre64
    • 5 years ago
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    this is the wrong one...4900 * ((e^.055) * 6) = 31062.2941; see how it interpreted it wrong :)

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spraguer (Moderator)
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