SOLUTION: Find the accumulated balance after 20 years if a $2000 deposit is compounded countinously at an APR of 3.1%

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Question 1167125: Find the accumulated balance after 20 years if a $2000 deposit is compounded countinously at an APR of 3.1%
Answer by ikleyn(52781) About Me  (Show Source):
You can put this solution on YOUR website!
.

It is  2000%2A%281%2Be%5E%2820%2A0.031%29%29 = 2000%2A%281%2B2.71828%5E%2820%2A0.031%29%29.


Use your calculator.

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To see many other similar solved problems,  look into the lesson
    - Problems on continuously compounded accounts
in this site,  and learn the subject from there.


After reading this lesson, you will tackle such problems on your own without asking for help from outside.

Also,  you have this free of charge online textbook in ALGEBRA-I in this site
    - ALGEBRA-I - YOUR ONLINE TEXTBOOK.

The referred lesson is the part of this online textbook under the topic "Logarithms".


Save the link to this online textbook together with its description

Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson

to your archive and use it when it is needed.


Happy learning (!)