SOLUTION: You deposit $6000 in an account earning 7% Interest compounded continuously. How much will you have in the account in 10 years?

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Question 1183132: You deposit $6000 in an account earning 7% Interest compounded continuously. How much will you have in the account in 10 years?
Answer by ikleyn(52776) About Me  (Show Source):
You can put this solution on YOUR website!
.
You deposit $6000 in an account earning 7% Interest compounded continuously.
How much will you have in the account in 10 years?
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Future value is


    FV = 6000%2Ae%5E%280.07%2A10%29 = 6000%2A2.71828%5E0.7 = 12082.51  dollars.    ANSWER

Solved.

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To see many other similar  (and different)  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.