SOLUTION: If you deposited $2000, withdrew no money, and earned 3% continuously compounded interest for 10 years, how much money would you have in the account? You made no other deposits.

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Question 1185021: If you deposited $2000, withdrew no money, and earned 3% continuously compounded interest for 10 years, how much money would you have in the account? You made no other deposits.
Answer by ikleyn(52781) About Me  (Show Source):
You can put this solution on YOUR website!
.
If you deposited $2000, withdrew no money, and earned 3% continuously compounded interest for 10 years,
how much money would you have in the account? You made no other deposits.
~~~~~~~~~~~~~~~~~~~~~ 

    Future value = 2000%2Ae%5E%280.03%2At%29 = 2000%2A2.71828%5E%280.03%2A10%29 = 2699.72  dollars.    ANSWER

Solved.

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To see many other similar solved problems on continuously compounded accounts,  see the lesson
    - Problems on continuously compounded accounts
in this site.

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.