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

andg17o7

Answered question

2022-09-13

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.

Answer & Explanation

zagrebova1c

zagrebova1c

Beginner2022-09-14Added 10 answers

Given: A = $ 7500 r = 6.66 % = 0.0666 t = 7  years
Compounded continuously
A = P e r t P = 7500 e 0.0666 × 7 P = $ 4705.3634 P = $ 4705.36

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