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Popular Word Problems >

Find the future value and interest earned if ​8904.56 is invested for 8 years at 6​% compounded continuously.

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Solution

solve for thefuturevalueandinterestearnedif​8904.56isinvestedfor8yearsat6​%compoundedcontinuously.

Solution

Amount:14390.43
Interest:5485.87
Solution steps
Translate the problem into an equation:14390.43=8904.56+I
Solve for I,14390.43=8904.56+I:I=5485.87
Amount:14390.43
Interest:5485.87

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