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i need compound interst continuoulsy broken down into easier steps.

Guest May 17, 2017
 #1
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Always give an example of what you want calculated.

Guest May 17, 2017
 #2
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You deposit $5,000 in a acoount that pays 3% interest compunded continuoulsy. How much will your investment be worth in 13.3 years

Guest May 17, 2017
 #3
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You deposit $5,000 in a acoount that pays 3% interest compunded continuoulsy. How much will your investment be worth in 13.3 years.

 

FV = PV x e^(i*t), where i=interest rate, t=number of years(in this case)

FV = 5,000 x e^(0.03*13.3)

FV = 5,000 x e^0.399

FV = 5,000 x 1.4903336......

FV =$7,451.67

Guest May 17, 2017

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