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02-09-2019
Mathematics

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If you deposit $1,000 ir an account that pays 6% annual interest compounded continuously, what will the balance be after five years?

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magicalduck23 magicalduck23

02-09-2019

Answer:

If you know 6% of 1000 is 60 so each year 60 will add so 60x5 is 300 so you will earn 300 in 5 years.

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