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Find the accumulated amount in an account

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Reference no: EM131637680

Question: CONTINUOUSLY COMPOUNDED INTEREST If a principal of P dollars is deposited in an account earning interest at the rate of r/year compounded continuously, then the accumulated amount at the end of t yr is given by

A = f(P, r, t) = Pert

Dollars. Find the accumulated amount at the end of 3 yr if a sum of $10,000 is deposited in an account earning interest at the rate of 6%/year.

Reference no: EM131637680

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