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QuestionAccounting

How much money invested at 6% compounded continuously for 5 years will result in $916?
5 months agoReport content

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Step 1
I'll solve this problem step by step using continuous compound interest formula:

Step 2
: Identify the Continuous Compound Interest Formula

- $$t$$ = Time in years
The formula for continuous compound interest is: Where:

Final Answer

$678.50 must be invested at 6% compounded continuously to result in $916 after 5 years.

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