Find the compound amount and the amount of interest earned by the following deposit. $9,000 at 4.13% compounded continuously for 8 years. What is the compound amount?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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Find the compound amount and the amount of interest earned by the following deposit.

$9,000 at 4.13% compounded continuously for 8 years.

What is the compound amount?

 

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