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You have invested $1,000 in a bank @5% interest compounded continuously. How much money will you have at end of 1 year?

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You have invested $1,000 in a bank that will give you 5% interest compounded continuously. How much money will you have at the end of 1 year?

Hint: mathematical constant "e" is used for everything in nature that multiplies continuously, from bacteria to greenbacks.
It represents the maximum amount of product for any reaction on a continuous basis.

posted Sep 16, 2016 by George Davros

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