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Use the Compound Interest Formula for Continuous Compounding to Determine

Question 58

Multiple Choice

Use the compound interest formula for continuous compounding to determine the accumulated balance after the statedperiod.
-A $49,433 deposit in an account with an APR of 3.6% compounded continuously for 10 years.


A) $70,739.76
B) $70,406.78
C) $70,853.77
D) $69,044.06

Correct Answer:

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