# Use the continuous compound interest formula to find the indicated value. A= $7,500 r= 6.66% t= 7 years P= ??? Round to two decimal points as needed. andg17o7 2022-09-13 Answered Use the continuous compound interest formula to find the indicated value. A=$7,500 r= 6.66% t= 7 years P= ??? Round to two decimal points as needed.
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zagrebova1c
Given:
Compounded continuously
$⇒A=P{e}^{rt}\phantom{\rule{0ex}{0ex}}⇒P=\frac{7500}{{e}^{0.0666×7}}\phantom{\rule{0ex}{0ex}}⇒P=4705.3634\phantom{\rule{0ex}{0ex}}⇒P=4705.36$