SOLUTION: Jacqueline buys $3,000 worth of appliances. Customers can finance through the store for 12% financing for 5 years, compounded continuously. Jacqueline will pay $___________ _____

Algebra ->  Exponential-and-logarithmic-functions -> SOLUTION: Jacqueline buys $3,000 worth of appliances. Customers can finance through the store for 12% financing for 5 years, compounded continuously. Jacqueline will pay $___________ _____      Log On


   

Question 1094715: Jacqueline buys $3,000 worth of appliances. Customers can finance through the store for 12% financing for 5 years, compounded continuously.
Jacqueline will pay $_________________
for the appliances, including interest
Answer by addingup(3677) About Me  (Show Source):
You can put this solution on YOUR website!
Jacqueline will pay: Pe^(rt)
= 3,000e^0.12*5
= 3,000e^0.6
= 3,000*1.822
= 5,466