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FlybynightSavings.com is offering a savings account that pays 29% compounded continuously. How much interest would a deposit of $2,000 earn over 15 years? (Round your answer to the nearest cent.)

Respuesta :

mathmate
present value, P = 2000
interest rate, i = 29% continuous     (sounds VERY generous, pl. chk for typo)
Number of periods, n = 15 years

Future value
[tex]F=Pe^{it}[/tex]
[tex]=2000e^{.29*10}[/tex]
[tex]=36348.29[/tex]   to the nearest cent

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