SOLUTION: A CD paying 7% APR computing continuously. Find the value of CD if invest $4000 for 9 years.

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Question 1147724: A CD paying 7% APR computing continuously. Find the value of CD if invest $4000 for 9 years.
Answer by ikleyn(52866) About Me  (Show Source):
You can put this solution on YOUR website!
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A CD paying 7% APR highlight%28cross%28computing%29%29 highlight%28compounded%29 continuously. Find the value of CD if invest $4000 for 9 years.
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Future value = 4000%2Ae%5E%280.07%2A9%29,


where e = 2.71828 is the base of natural logarithms.


Use your calculator.

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On such problems, see the lesson
    - Compound interest percentage problems
in this site.

Also, learn the meaning of the terms you use.