Question

Asked Dec 22, 2019

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Step 1

From the given information it is required to calculate the amount that results from the given investment:

Principal (P) = $30

Rate (r) = 5% = 5/100 = 0.05

Time (t) = 2 years

The formula to calculate the amount that is compounded continuously is:

Step 2

Now, put in the values to c...

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