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Popular Word Problems >

Find the accumulated value of an investment of 9000 at 7.5% compounded continuously for 6 years.Question 2 options:

Solution

solve for

t h e a cc u m u l a t e d v a l u e o f an in v es t m e n t o f 9000 a t 7.5% co m p o u n d e d co n t in u o u s l y f or 6 ye a rs . Q u es t i o n 2 o pt i o n s :

Solution

Amount : 14114.81

Solution steps

Translate the problem into an equation:

A = 9000 e^{0.075 \cdot 6}

9000 e^{0.075 \cdot 6} = 14114.80966 \dots

Round to the nearest hundredth:

14114.81

Amount : 14114.81

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