Question

Asked Sep 26, 2019

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Step 1

To determine the amount that should be invested to get a return of $ 1500 in three provided that the rate of interest is 6% per year compounded continuously.

Step 2

The accumulated amount A after *t* years for principal amount *P *invested at a rate of interest *r* compounded continuously is given by the formula:

Step 3

Consider that the rate of interest is 6%, accumulated amount...

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