Moneysaver's Bank offers a savings account that earns 5% interest compounded continuously. If Carlos deposits $3400 , how much will he have in the account after seven years, assuming he makes no withdrawals? Do not round any intermediate computations, and round your answer to the nearest cent.
Moneysaver's Bank offers a savings account that earns 5% interest compounded continuously. If Carlos deposits $3400 , how much will he have in the account after seven years, assuming he makes no withdrawals? Do not round any intermediate computations, and round your answer to the nearest cent.
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
Problem 27PS
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Question
Moneysaver's Bank offers a savings account that earns
interest compounded continuously. If Carlos deposits
, how much will he have in the account after seven years, assuming he makes no withdrawals?
5%
$3400
Do not round any intermediate computations, and round your answer to the nearest cent.
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