Question

S

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A business deposits $40,000 in a fund that pays 3% interest, compounded continuously.
Write an equation that can be used to determine the balance A after a period of tyears, where A is measured in dollars.
A =
Determine the balance (in dollars) in this account after 26 years. (Round your answer to the nearest cent.)
$

3
yz
x8

Answer 1

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