SOLUTION: You invest $500 in an account that earns interest at a rate of 8.5% compounded continuosly. How much money do you have after 3 years?

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Question 1038014: You invest $500 in an account that earns interest at a rate of 8.5% compounded continuosly. How much money do you have after 3 years?
Answer by Alan3354(69443) About Me  (Show Source):
You can put this solution on YOUR website!
You invest $500 in an account that earns interest at a rate of 8.5% compounded continuosly. How much money do you have after 3 years?
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FV+=+PV%2Ae%5E%28rt%29
= 500%2Ae%5E%280.085%2A3%29
= $645.23