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All changes saved16. Suppose you invest $7500 at an annual Interest rate of 4.2% compounded continuously. How much will you have in the account after 2 years? Round the solution to the nearest dollar.$8158$17,372$17,373$8157

All changes saved16. Suppose you invest $7500 at an annual Interest rate of 4.2% compounded continuously. How much will you have in the account after 2 years? R class=

Answer :

We have to use the continuous compound interest formula

[tex]A=P\cdot e^{rt}[/tex]

Where P = 7500, r = 0.042, t = 2. Let's replace and solve

[tex]\begin{gathered} A=7500\cdot e^{0.042\cdot2} \\ A\approx8,157 \end{gathered}[/tex]Hence, the answer is $8,157.

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