Suppose that $3200 is borrowed for five years at an interest rate of 8.5% per year, compounded
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Suppose that $3200 is borrowed for five years at an interest rate of 8.5% per year, compounded continuously. Find the amount owed, assuming no payments are made until the end. Do not round any intermediate computations, and round your answer to the nearest cent.
Related Book For
Personal Finance An Integrated Planning Approach
ISBN: 978-0136063032
8th edition
Authors: Ralph R Frasca
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