Concept explainers
To find: the amount accumulated in an investment for compounded continuously.
Answer to Problem 56E
Explanation of Solution
Given:
The principle, rate, and time period of the amount accumulated is given below:
Calculation:
As theamount accumulated in an investment for compounded continuously is
Now, substitutes the givenprinciple, rate, and time period in the above formula for continuously compounded. Then,
Hence, the amount accumulated in an investment for compounded continuouslyis
Chapter 15 Solutions
Advanced Mathematical Concepts: Precalculus with Applications, Student Edition
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