Math Problem Statement
Piper invested $4,700 in an account paying an interest rate of 4.8% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest cent, would be in the account after 19 years?
Solution
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Math Problem Analysis
Mathematical Concepts
Continuous Compounding
Exponential Growth
Formulas
A = P * e^(rt)
Theorems
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Suitable Grade Level
Grades 10-12
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