SOLUTION: $5000 is invested at 4.75% compounded continuously. How much money is in the account after 4 years?

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Question 805417: $5000 is invested at 4.75% compounded continuously. How much money is in the account after 4 years?

Answer by erica65404(394) About Me  (Show Source):
You can put this solution on YOUR website!
For investments compounded continuously you would use the equation
P=A%28e%5E%28rt%29%29
P=5000%28e%5E%28.0475%2A4%29%29
P=5000%281.209%29
P=%246046