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Popular Word Problems >

Find the future value and interest earned if 8806.54 is invested for 7 years at 4% compounded continuously

Solution

solve for

t h e f u t u re v a l u e an d in t eres t e a r n e d i f ​8806.54 i s in v es t e d f or 7 ye a rs a t 4​% co m p o u n d e d co n t in u o u s l y

Solution

Amount : 11652.2

Interest : 2845.66

Solution steps

Translate the problem into an equation:

11652.2 = 8806.54 + I

Solve for

I, 11652.2 = 8806.54 + I : I = 2845.66

Amount : 11652.2

Interest : 2845.66

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