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Use the Compound Interest Formula for Continuous Compounding to Determine

Question 116

Multiple Choice

Use the compound interest formula for continuous compounding to determine the accumulated balance after the statedperiod.
-A $5000 deposit in an account with an APR of 4.8% compounded continuously for 6 years. 143)


A) $6668.79
B) $5245.85
C) $6624.27
D) $2120.22

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