rayray72 rayray72

10-05-2017
Mathematics

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Find the interest earned on a $10,000 balance for nine months at 3 1/4% interest compounded continuously ?

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wolf1728 wolf1728

13-05-2017

Total = Principal * e^(rate * years)
Total = 10,000 * e^(.0325 * .75)
Total = 10,000 * 1.0246744988
Total = 10,246.75
Therefore the interest = 246.75

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