SOLUTION: Find the value of \$5,800 deposited into a bank at 1.7% interest compounded continuously for 9 years. Please help! Thank you!

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 Click here to see ALL problems on Money Word Problems Question 199299: Find the value of \$5,800 deposited into a bank at 1.7% interest compounded continuously for 9 years. Please help! Thank you!Answer by Edwin McCravy(8999)   (Show Source): You can put this solution on YOUR website!Find the value of \$5,800 deposited into a bank at 1.7% interest compounded continuously for 9 years. ``` The formula is Where A = the starting value, which in this case is 5800 P = the ending value, which is what we are to find r = the annual rate expressed as a decimal, which in this case is .017 t = the number of years, which in this case is 9 Rounding to the nearest penney: P = \$6758.88 Edwin```