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anonymous
 5 years ago
You invest $700 in an account that pays an interest rate of 6.5%, compounded interest. Calculate the balance of your account after 20 years. Round your answer to the nearest hundredth.
is this the equation & answer for this problem?
700 * (e^.065) * 20 = 14940.226
anonymous
 5 years ago
You invest $700 in an account that pays an interest rate of 6.5%, compounded interest. Calculate the balance of your account after 20 years. Round your answer to the nearest hundredth. is this the equation & answer for this problem? 700 * (e^.065) * 20 = 14940.226

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amistre64
 5 years ago
Best ResponseYou've already chosen the best response.1is it compounded 'continnuously'?

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.1then thats in error; right thought, wrong setup... and it looks like a google error not your own... try putting it in like this: 700*(e^(.065*20)) and see what you get

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.1700 * (e^(.065 * 20)) = 2568.50767 is better and it forces google to follow the order of operations better

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0darn. i thought i had it right. but thanks! :)
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