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George invested $2000 in a savingsaccount that has an interest rate of4.7% After 5 years, what is the balanceif the account is compounded...Continuously?a. A=$2516.31b. A=$3.21c. A=$2528.66d. A=2529.82 |
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Answer» <P>Answer: Answer is A $2516.31 Step-by-step EXPLANATION: P=$2000 T=5yrs R=4.7% Compound AMOUNT(CA)= P(1+R/100)T =2000(1+4.7/100)5 =2000(104.7/100)5 =2000*1.258 =$2516.31 =2192.418 |
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