Exer. 78: How much money, invested at an interest rate of

Chapter 5, Problem 7

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QUESTION:

Exer. 78: How much money, invested at an interest rate of r% per year compounded continuously, will amount to A dollars after t years?

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QUESTION:

Exer. 78: How much money, invested at an interest rate of r% per year compounded continuously, will amount to A dollars after t years?

ANSWER:

Step 1 of 2

The balance of principal amount P with annual rate of compound interest r after t years is expressed by

                   (i)

Here, r is in the decimal form.

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