Math Problem Statement
Find the amount A in dollars of $8,000 invested for 30 years at 9% compounded continuously. (Enter a number. Round answer to the nearest cent.) $
Solution
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Math Problem Analysis
Mathematical Concepts
Continuous Compounding
Exponential Growth
Interest Calculation
Formulas
A = P e^{rt}
Theorems
Exponential Growth Theorem
Suitable Grade Level
Grades 11-12
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