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Use the Formulas A=p(1+rn)ntA = p \left( 1 + \frac { r } { n } \right) ^ { n t }

Question 54

Multiple Choice

Use the formulas A=p(1+rn) ntA = p \left( 1 + \frac { r } { n } \right) ^ { n t } or A=pertA = p \mathrm { e } ^ { r t } to find the amount for the investment. $4,200 for 5 years at 5% compounded continuously.


A) $5,392.77
B) $5,392.84
C) $5,392.70
D) $5,392.63
E) $5,392.91

Correct Answer:

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