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Suppose an investment of $5000 is compounded continuously at an annual interest rate of 4%. At the end of seven years, how much will the investment be worth? Please round your answer to the nearest cent and write your answer without a dollar sign.

Suppose an investment of $5000 is compounded continuously at an annual interest rate of 4%. At the end of seven years, how much will the investment be worth? Please round your answer to the nearest cent and write your answer without a dollar sign.

Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Suppose an investment of $5000 is compounded continuously at an annual interest rate of 4%. At the end of seven years, how much will the investment be worth? Please round your answer to the nearest cent and write your answer without a dollar sign.
Transcribed Image Text:Suppose an investment of $5000 is compounded continuously at an annual interest rate of 4%. At the end of seven years, how much will the investment be worth? Please round your answer to the nearest cent and write your answer without a dollar sign.
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Step 1: concept

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